The first free economic zone will be in use from November 2012. This was reported today, on September 4, by Minister of Economy Tigran Davtyan. The latter toured the “RAO MARS” and “Yerevan Research Institute of Mathematical Machines” companies’ areas, where the first free economic zone will be organized. It will have 83 thousand square meters of territory, 27 thousand square meters of which in YRIMM and 56 thousand square meters in “RAO Mars”.
Free zone is organized by the Russian “Sitronix” company.
General Director of “Sitronix Armenia” Armen Khachatryan told reporters that the United States, China and other countries expressed interest in the free economic zone. For the purpose of organizational activities “Sitronix Armenia” has already invested 3 million dollar.
“The state provides privileged opportunities in the free economic zone, by dropping the tax revenues. No one should think that they can pass their existing businesses to free economic zones. We are consistent, and this has been done to engage new investment, new companies and new technologies. We will be more flexible if needed, and will strengthen the participation of companies “said T. Davtyan