YEREVAN, OCTOBER 19, ARMENPRESS. Acting minister of economic development and investments Tigran Khachatryan and ECOS director Zarmine Zeytuntsyan have signed an agreement on October 18 on organizing the free economic zone (FEZ) in Hrazdan.

The contract defines the functions of the FEZ organizer, its obligations and relations with the government.

The FEZ in Hrazdan is aimed at developing high technologies in Armenia.

ECOS is the organizer of the zone, the ministry of economic development and investments said.

A number of infrastructure services (educational-communication projects, analytical labs, electronic platforms) will operate in the unique ecosystem which is being created on the basis of the FEZ.

Within the framework of the FEZ, the ECOS industrial mining center will be created based on the Hrazdan TPP, which will become a part of the technological cluster planned for innovative startups, and will also serve as a data center for the FEZ.

ECOS is an innovative ecosystem that is comprised from data centers, industrial mining centers, a venture fund, an educational platform, an analytical lab, acceleration programs and the Armenian Blockchain Forum.

Edited and translated by Stepan Kocharyan