YEREVAN. – Prime Minister Tigran Sargsyan visited the AJA Holding company’s space in Armenia, where a free economic zone for specialized jewelry, precious stone cutting, and watch-making is being established, the Government informed Armenian News-NEWS.am.     

The PM toured the space, and got acquainted with the future construction activities.   

At the ensuing consultation, Sargsyan was presented the free economic zone project. Accordingly, about 120 to 150 companies are expected to be incorporated into the free economic zone during the first three years; these companies should create around 2,000 new jobs and annually export products totaling about $200-250 million. 

The free economic zone is expected to start phased activities this year and be fully launched by the end of next year. 
The renovated space of the free economic zone will total 32,400 square meters, whose 12,750 square meters will be a production area. As of 2013, more than fifteen jewelry companies—from Russia, the USA, Turkey, Lebanon, and the United Arab Emirates—already have initially requested close to 10,000 square meters of space at the future free economic zone in Armen