"Orion Group" CJSC will invest $ 200 thousand in "Ecos" free economic  zone in Armenia

ArmInfo. "Orion Group" CJSC will invest $ 200 thousand in the "Ecos" free economic zone in Armenia. At the meeting of August 15, the RA Government issued  permission to the company to carry out its activities in this area.

Presenting the draft decision, RA Minister of Economy Tigran  Khachatryan emphasized that the permission to Orion Group CJSC was  issued for a period of five years as an operator of the FEZ. The  company will specialize in high and information technology. It, in  particular, will be engaged in the repair of mining equipment,  control systems and programming. Thus, the minister continued, the  company will become a service structure for other companies  represented in the FEZ. The project provides for the creation of 50  jobs with an average salary of 140 thousand drams, and for the top  management of the company - 200 thousand drams.

On August 30 of last year, the RA government decided to create a new  FEZ in the town of Hrazdan, on the premises of the Hrazdan TPP,  organized by ECOS CJSC. The company pledged until 2043 to involve  about 200 beneficiaries in the work of the zone. It is envisaged that  CJSC ECOS itself will create 23 jobs and there will be  300beneficiaries. At the same time, the company will invest $ 4  million in the zone by 2021, and the beneficiaries- $ 15 million. At  the same time, the volume of investments will further increase by  another $ 30 million.

The FEZ will consist of two components - production and office.  Production areas of 4.3 hectares will be located at Hrazdan TPP, and  office in Yerevan. There will be a mining center in Hrazdan, that is,  activities based on blockchain technologies, the widespread use of  databases and technologies. The project aims to provide foreign  direct investment, increase the investment attractiveness of the  country, create new jobs, etc. The FEZ is valid for 25 years.

The new FEZ became the 4th in Armenia. In particular, 13  beneficiaries work in the "Alliance" FEZ, who have invested AMD 2.8  billion over the past few years and created 326 jobs. 6 beneficiaries  are registered in the "Meridian" FEZ, who have made investments in  the amount of 8.2 billion drams and created 181 jobs. The Meghri FEZ,  in which 5.2 mln drams have already been invested, is also in the  process of creation. It is envisaged that by the decision of the  Prime Minister of the Republic of Armenia Nikol Pashinyan, a working  group will be formed, which in the Free Economic Zone "Meghri" will  have to deal with the creation of two new areas on the border  territory. Active interaction with the NSS is underway on this issue.