YEREVAN.-The first free economic zone in Armenia will be opened in November, Minister of Economy Tigran Davtyan said at the meeting with journalists. The minister made a visit to territories of "RAO Mars" and "Yerevan Research Institute of Mathematical Machines" where the first economic zone is to be set. The zone will have 38 thousand sq/m space. 

The organizer of the free economic zones is Sitronics Russian company. Sitronics Armenia head Armen Khachatryan told that among countries interested in economic zone are USA, China and others. Sitronics Armenia has already made 3 million dollar investment.

“In free economic zone the government offers privileges by discarding basic tax incomes. Nobody can transfer his existing business in the area.  This is aimed at involving new investments, companies and technologies. We will be more flexible and in case of necessity will toughen the requirements of companies’ participation,” said Davtyan.