By the decision of the government of RA a new free economic zone will be created in Hrazdan, organized by ECOS CJSC.
According to Artsvik Minasyan, the Minister of Economic Development and Investments, the program provided by the organization envisages to involve 200 operators in that territory till 2043, and up to 50 operators till 2021.
"During the program 22 new jobs will be created by the organizer and 300 new jobs will be created by the exploiters. The organizer plans to invest up to $ 4 million and operators will invest $ 15 million till 2021 and $ 30 million for the next years, "said Minasyan stressing that he will be the two main areas of the FEZ. one in Hrazdan with a total area of 4.3 hectares and the other one in Yerevan.
"In Hrazdan, it is expected to be a mining center, that is blockchane technology-based activities, cloud computing and cloud-based utilization of large masses of data, and wider opportunities," said the Minister adding that this would be the 4th free economic zone in Armenia.
The FEZ's operation period is 25 years.
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