100mln $ investment, 2000 jobs to be created in jewelry industry in Armenia

YEREVAN, MAY 18, ARMENPRESS. Minister of Economy Artsvik Minasyan said the Government adopted a policy according to which the goal of the creation of free economic zones and its activities should be the diversification and development of the Armenian economy.

“As of this moment we have two free economic zones, one of which is specialized in IT, where the statistics are really impressive, because not only is the number of companies growing, but also new values are created by them, which are directed for export”, the minister said.

The Minister added that the other zone is the jewelry industry. “We have positive developments here also. Here, operators are foreign investments. The majority are Armenians by nationality, but are operating via foreign investments. As you know, the conditions of free economic zones are not only investments, but also creation of jobs. By assessing the numbers, we expect 100 million USD investments in the near future. Around 2000 jobs will be created. All of this will contribute to economic development”, the minister said.