YEREVAN. – The Sitronics Armenia Company will build infrastructures for Armenia’s first free economic zone (FEZ), the Company’s General Director Armen Khachatryan told Armenian News-NEWS.am. He added that close to ten-million euros are planned to be invested for FEZ’s creation and administration.

To note, by the Armenian government’s decision on February 2, Sitronics Armenia received the status of FEZ administrator.       

In June 2011, Armenia’s Parliament had passed the law on free economic zones, pursuant to which the companies operating inside these zones will be exempt of the value added tax, income tax, and property tax for exports. Aside from the FEZs under Sitronics Armenia’s administration, two more are planned to be created at Zvartnots International Airport, and Gyumri city’s Technopark.  

Sitronics Armenia is a sister enterprise of the Russian Sitronics Concern, and it is a leading corporation in the domain of telecommunication solutions, Information Technology, and microelectronic products.