Armenian Prime Minister Tigran Sargsyan and Russian Minister of Transport Maxim Sokolov participated in the opening ceremony of the first free economic zone in Armenia.
Armenia’s premier congratulated all the sides involved in the project, expressed his gratitude for the joint work done since 2008 and wished success to the pilot program.
In his turn, Minister Maxim Sokolov expressed his thanks to all the sides, particularly to Armenia’s premier, for their efforts.
After cutting the ribbon, Premier Sargsyan and Minister Sokolov walked round the area and got acquainted with the infrastructures and services.
The free economic zone is supposed to promote direct foreign investments, implementation of more export programs, conditions for creation of jobs and for steady economic progress.
Resident companies can operate in the free economic zone by using the “one window” service. They can take advantage of tax benefits as well as of absence of exchange restrictions, free transfer of capital, profits and dividends. The preferential terms are supposed to reduce production cost and enhance competitiveness.