A free economic zone will be created in Armenia to host an advanced technological center – the Armenian Silicon Valley – the Armenian Blockchain Forum said in a statement on Monday, January 15.
The idea was approved by both the government and the ABF.
The cluster is tasked to organize and regulate a unique infrastructure in Armenia for attracting and developing technology projects from abroad.
An international accelerator will operate on the territory of the FTZ which will serve as a platform for launching and developing innovative projects from all over the world.
Also, it is planned to create technical areas and databases aimed at the launch and support of a decentralized technology network.
According to the ABF, the ecosystem is expected to yield 250-300 new high-paying jobs and foreign investments worth $120 million.
