YEREVAN. – Armenian Prime Minister Tigran Sargsyan and Russian Federation Transportation Minister Maxim Sokolov were on hand Saturday at the official opening of the first free economic zone (FEZ) in Armenia.

The Armenian Government press service informed the aforesaid to Armenian News-NEWS.am.

After cutting the symbolic ribbon of the FEZ entrance, Sargsyan and Sokolov toured the area and got familiar with the infrastructures and services it offers.         

The establishment of FEZ in Armenia seeks to promote direct foreign investments, increase exports, create new jobs, and generate prerequisites for sustainable economic development in Armenia. 

The free economic zone has a 55,799 square meters of economic production area and 37,908 square meters of office space.