YEREVAN. – Prime Minister of Armenia Hovik Abrahamyan on Tuesday visited the Meridian jewelry free economic zone construction site in capital city Yerevan.

Abrahamyan observed the activities to set up goldsmithery, diamond production, and watch-making in the zone.     

Armenian Jewelers’ Association Chairman Gagik Gevorgyan informed the PM that the company is making a capital investment that is equivalent to about $14 million.

Numerous world-renowned companies are expected to conduct activities, and around 1,000-1,200 new jobs should be created in this free economic zone.

Initial intention agreements already are signed with eight companies, and cooperation with twelve others is in the negotiation phase.

In addition, a more than 10,000-square-meter exhibition center will function in the jewelry free economic zone.