The creation of a free economic zone requires private initiatives and investments. This is what Armenia’s Minister of Economic Development and Investments Tigran Khachatryan declared during the hour of government officials at the National Assembly on 6 March, responding to Deputy of Prosperous Armenia Party Sergey Bagratyan’s question on the possibility of the creation of a free economic zone (FEZ) in Gyumri.

According to the minister, free economic zones are usually created after discussions and the attraction of private investors.

“As you know, in Armenia, there are three more free economic zones besides the one in Meghri, including two in Yerevan and one in Hrazdan. In the past, there were also discussions on the creation of a free economic zone in Gyumri,” Khachatryan stated.

He also said that a company has planned to invest funds for the creation of a logistics center not far from Shirak Airport in Gyumri and there has even been a discussion on the issue, but there is still no progress.

As the government official mentioned, the possibility will be considered with the local authorities when a specific program proposal is presented.

Khachatryan highlighted the fact that the government supports investment programs in the sectors in Armenia in which there is not much economic activity.