Time in Yerevan: 11:07:36,   17 June

Armenia creates new FEZ in industrial town

YEREVAN, AUGUST 30, ARMENPRESS. A new free economic zone will be created in the city of Hrazdan, as decided by the government.

ECOS, a closed-joint stock company, was chosen to be the organizer of the zone, i.e. the founder.

During today’s Cabinet meeting, minister of economic development and investments Artsvik Minasyan said that according to the company’s plan, 200 operators will be involved in the zone by 2043.

50 operators will be involved in the area by 2021 alone, he said.

The company will invest 4,000,000 dollars, while operators will invest 15,000,000 dollars until 2021 and an additional 30,000,000 dollars for the remaining years, the minister said.

In addition to the main area (4,3 ha) in Hrazdan, the FEZ will also have office premises in Yerevan.

He said that they expect a blockchain mining center to be established in Hrazdan.

Edited and translated by Stepan Kocharyan

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