YEREVAN. – The government of Armenian has established a company that will oversee the free economic zone on the border with Iran.
The respective decision was made at Thursday Cabinet session of the government.
Accordingly, the Meghri Free Economic Zone LLC will work towards attracting business enterprises and assisting in their activities.
According to the government, the free economic zone in Meghri town plans to catch the attention of 100 to 120 companies and draw investments totaling $350 to $400 million, within ten years.
These companies are expected to increase Armenia’s exports by $100 to $120 million per annum.
The exports will expand primarily toward the countries of the Eurasian Union, Iran, the Middle East, and Central Asia,
In addition, more than 2,500 jobs are expected to be created.
