Time in Yerevan: 11:07:36,   10 December

PM Karapetyan attends opening ceremony of Meghri Free Economic Zone in Syunik province


YEREVAN, DECEMBER 15, ARMENPRESS. The Meghri Free Economic Zone launched its activity on December 15 at the presence of Armenian Prime Minister Karen Karapetyan, reports Armenpress.

The opening ceremony was attended by minister of economic development and investments Suren Karayan, Syunik governor Vahe Hakobyan, Iran’s Ambassador to Armenia Seyed Kazem Sadjadi, as well as a group of businessmen.

Minister Suren Karayan said the Economic Zone is expected to be constructed at two stages. “At the first stage the minimum necessary infrastructures and preconditions have been created for launching the works of the FEZ and organizing the activity of companies that want to operate here”, the minister said.

According to him, at the second stage it is planned to expand the necessary infrastructures and the space by additional 70 hectares creating preconditions to run a profitable business. “It is planned to attract 50-70 operating companies in the upcoming years which will make nearly 100-130 million USD investments, will create 1500 new jobs and will export goods and services worth 250 million USD”, the minister said.

He said there are already companies which want to conduct an activity in the Meghri Free Economic Zone, and agreements will be signed with 5 of them in the upcoming days. The minister also highlighted the fact that the newly-opened Meghri FEZ and Iran’s Aras free trade zone have already signed a memorandum of cooperation which will contribute to developing the bilateral economic cooperation and increasing the trade turnover volumes.

Suren Karayan informed that European, Russian and Iranian companies are also interested in conducting an activity in the Meghri FEZ.

The companies operating in the Meghri FEZ will be exempt from profit tax, value added tax, excise tax and customs fees, paying only the income tax.

The fields of agriculture, processing industry, trade, transportation and storage economy, tourism will be presented in the FEZ.

 

 




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