Armenia makes its first steps towards free economic zones creation

 July 14, 2011 - 15:46 AMT

PanARMENIAN.Net - On July 14, Armenian Minister of Economy Tigran Davtyan and General Manager of Argentine Corporation America S.A. Marcello Venden signed a cooperation agreement on creation of free economic zones in Zvartnots airport.

As the Minister said, Armenia creates legal ground for implementation of project on creation of free economic zones in the country.

Davtyan reminded that the Parliament has already passed a respective law, and as soon as the President signs it, it will come into force.

Simultaneously, steps are being carried out towards implementation of the project, namely, refrigerating systems are being installed at the airport for keeping, packaging and export of agricultural products, according to him.

Regarding to the project, the Minister said that during the first stage they will focus on two directions, namely, processing of food products (at Zvartnots airport) and development of industry (in the base of Mars plant) using innovative technologies.

Davtyan noted that free economic zones will operate beyond customs field of Armenia. And, to prevent monopoly, the government will monitor the work of companies operating in this zone.

“Free economic zones project aims to stimulate foreign investments inflow, increase export volume, job opportunities,” the Minister said.

In turn, Venden added that Argentine corporation specializes at free economic zones management in different countries.

“We are very interested in cooperation with authorities and hope after accomplishment of Zvartnots new terminal, Armenia will become more attractive for other countries, which will help attract foreign investors to set here their production,” he said.