Thursday, August 8 2024 13:19

ArmInfo. The term of the free economic zone (FEZ) "Alliance" will be extended for 1 year. The decision on this was made at the meeting of the RA government on August 8.

As noted in the justification of the project, earlier on June 27, 2023, the term of operation of the above- mentioned zone was already extended for one year.

Considering that as a result of the extension, the period of operation of the FEZ ends this year, the most long-term and comprehensive prospective process of its development is currently being discussed. 

Therefore, at the current stage, as a transitional period, it is proposed to extend the period of operation of the free economic zone for another year, which will make it possible to develop a more effective and realistic management business plan, ensure a higher level of control in order to more effectively organize the "Alliance" in its future activities. As a result of the adoption of the project, it will be possible to attract new investments, which will contribute to the growth of exports of products created in the field of high and innovative technologies, recognition and dissemination of the Armenian brand.

By the decree of the Government of the Republic of Armenia dated July 18, 2013, the free economic zone "Alliance" was created on the territories of CJSC "RAO MARS" and CJSC "ErNIIMM".

The organizer of the above-mentioned free economic zone is recognized as CJSC "SITRONICS ARMENIA".  The start of the free economic zone "Alliance" was given on August 1, 2013. The free economic zone "Alliance" is focused on the production and export of high and innovative technologies - in the fields of electronics, precision engineering, pharmaceuticals and biotechnology, information technology, alternative energy, industrial design and telecommunications (design and production of technological equipment, systems and materials for data/information transmission), as well as in the release of products not manufactured in the territory of the Republic of Armenia.

On August 14, 2013, the Government of the Republic of Armenia and SITRONICS ARMENIA CJSC signed an agreement on the organization of a free economic zone created on the territory of RAO MARS CJSC and ErNIIMM CJSC. The term of the free economic zone is 10 years.