ArmInfo. On May 8, the Government of Armenia approved the establishment of the free economic zone (FEZ) in the Yegipatrush settlement in the Aragatsotn region.
As stated in the explanatory note to the document, LLC has submitted an application to establish a free economic zone in the Yegipatrush settlement of the Aparan community in the Aragatsotn region as a private initiative. Recognizing LLC as the Organizer of this zone, and based on the conclusion of the evaluation commission, the free economic zone was created by the decree of the Government of the Republic of Armenia dated August 15, 2024.
The organizer is making large-scale investments in the relevant infrastructure of the FEZ, focusing primarily on the development of the cable car and ski slopes. Major capital investments are directed towards constructing the cable car, ski slopes, artificial snow system, ice rink, hotels, restaurants, other entertainment facilities, as well as the internal communications and infrastructure of the FEZ. Infrastructure investments have been implemented and are continuing,> the document says. It is noted that the decision sets the start date of the FEZ at one year.
