The free economic zone, expected to build bridges between Iranian and Armenian businessmn, opened in the southern town of Meghri (Syunik region) on Friday in a solemn event bringing together government officials and businessmen.
The official ceremony was attended by Prime Minister Karen Karapetyan, Minister of Economic Devekopment and Reforms Suren Karen, Regional Governor of Syunik Vahe Hakobyan and Iranian Ambassador Seyed Kazem Sadjadi.
A two-phase plan was initially proposed for completing the entire zone construction, Minister Karayan said in a greeting speech. “The first phase involved the creation of the minimal infrastructures and preconditions necessary for launching the free economic zone and arranging the activities of companies wishing to operate there,” he told the participants.
As for the second stage, it proposes a 70-hectare expansion plan for additional infrastructures and space. “It is planned to involve 50-70 operating companies in the coming couple of years for attracting $100-$130 million worth investments, creating 1,500 new jobs and exporting $250 million worth goods and services,” the minister added.