Time in Yerevan: 11:07,   23 February 2024

Government-private sector co-op to create engineering town in Jrvezh

Government-private sector co-op to create engineering town in Jrvezh

YEREVAN, SEPTEMBER 7, ARMENPRESS. The Armenian government is considering the idea of creating an engineering city.

Deputy minister of economic development and investments Emil Tarasyan told ARMENPRESS they hope they will announce the launch of creating the engineering city very soon.

“We are talking about Jrvezh’s engineering city. The location is already decided, now we are solving the issues relating to allocation of lands. It will be an eco-system of Armenian startups. Right now there are 17 startups who are ready to create this cottage city. They will have separate branches”, Tarasyan said.

He said there will be an incubator administrative building in the city, and startups who will be engaged in engineering but won’t be able to allocate several hundreds of thousands of dollars to create labs or administrative buildings, will be able to rent spaces in the building and use equipment.

This is very important since engineering requires investing serious money and technologies.

Tarasyan said the engineering city will be created as result of government-private sector cooperation. The government will cooperate with National Instruments in this case.

Investments will be made 50/50.

The trading center of Philip Morris will be located in the engineering town, among others.



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