Armenian Government approved on Thursday the bill on creating a free trade zone in Meghri region of Syunik Province. The project was presented by Minister of Economic Development and Investments Suren Karayan.
According to him, the goal of the free trade zone is to attract FDIs, raise the investment attractiveness of the country and boost exports, as well as to create new jobs and foster sustainable economic development.
The government also approved a functional type of the free trade zone.
According to the Minister, the free trade zone will develop in two phases covering 70 hectares by the final stage.
“It’s planned to involve 50-70 companies in the free trade zone in the nearest years, that will make 130-150 million USD investments creating 1500 new jobs. Export volumes will amount to 350 million USD”, Suren Karayan said.
Answering Prime Minister Karen Karapetyan, the Minister of Economic Development noted that the opening of the free trade zone will take place on December 15.
