Meghri
About 120 foreign companies will be hosted by the free economic zone, which are expected to invest a total of $350-400 million

A free economic zone Armenia is building in Meghri, a southern town near the border with Iran, will start operation in November, economic development and investments minister Suren Karayan told journalists on Wednesday.  "The work is approaching the final stage, and we are hopeful that in November we will officially announce the launch of the zone," Karayan said.

The minister said later the Meghri free economic zone will be merged with the Syunik economic zone, which is also underway now. 

The free economic zone in the southern Armenian Meghri, near the border with Iran is estimated to cost $32 million, of which $28 million are capital expenditure. It is said to create 2,500 new jobs and increase Armenian exports by 30%. 

According to the government, the main purpose of the free economic zone is to help boost trade and economic relations with Iran and other countries of the region, help the development of the southern Armenian province of Syunik, as well as position Armenia as a link between Iran and members of the Eurasian Economic Union (EEU) and Georgia. 

About 120 foreign companies will be hosted by the free economic zone, which are expected to invest a total of $350-400 million.


Source: arka.am

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