We can have free economic zone operator in Armenia on the border with Iran as early as April, told the Head of Investment Policy Department at Ministry of Economy of the Republic of Armenia Vahagn Lalayan.
The law "On free economic zones" envisages, that after the operator has been officially approved, it will begin the construction of infrastructures on the spot. " Both the Iranian and Western companies showed an interest in the free zone management ", he added.
According to the expectations of the Ministry, 100 - 120 companies will be involved and $ 350 - 400 million invested into the free zone in 10 years.
It is expected that these companies will increase the export of Armenia for $ 100 - 120 million per year, mainly to the countries of the Eurasian Union, Iran, the Middle East, and Central Asia, including Turkmenistan.
The free zone will be located near the border with Iran – along 35 hectares, with a possibility to expand to 10. Presumably, the overall costs of the free zone organizer for 10 years will amount to 32 million, whereas the income will make 52 million.