Unique free economic zone to yield advanced tech solutions in Armenia

Unique free economic zone to yield advanced tech solutions in Armenia

PanARMENIAN.Net - A free economic zone will be created in Armenia to host an advanced technological center - the Armenian Silicon Valley - the Armenian Blockchain Forum said in a statement on Monday, January 15.

The idea was approved by both the government and the ABF.

The cluster is tasked to organize and regulate a unique infrastructure in Armenia for attracting and developing technology projects from abroad.

An international accelerator will operate on the territory of the FTZ which will serve as a platform for launching and developing innovative projects from all over the world.

Also, it is planned to create technical areas and databases aimed at the launch and support of a decentralized technology network.

According to the ABF, the ecosystem is expected to yield 250-300 new high-paying jobs and foreign investments worth $120 million.

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