At Thursday’s Cabinet meeting, the government of Armenia approved the initiative to create a free economic zone (FEZ) nearby the Shirak International Airport of Gyumri—and by the Eurasian Logistic Park Free Economic Zone LLC.
The Minister of Economy, Tigran Khachatryan, noted that this initiative aims to serve the e-commerce logistics warehouses and export-oriented manufacturing processes.
“The creation of a free economic zone aims to promote foreign direct investments [into Armenia], increase the investment appeal of the country, create new jobs, and sustainable economic development,” he said, in particular.
In the minister’s words, the aforesaid company plans to build a 319-hectare FEZ within 10 to 12 years.
“It’s envisaged that about 13 thousand employees will have jobs there,” Khachatryan added.
