New FEZ to be created in Myler ski resort in Armenia

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08.05.2025, 18:09

The Armenian government made a decision today to create a new free economic zone (FEZ) MyLer in the Yegipatrush community of the Aragatsotn region.

New FEZ to be created in Myler ski resort in Armenia

YEREVAN, May 8. /ARКА/. The Armenian government made a decision today to create a new free economic zone (FEZ) MyLer in the Yegipatrush community of the Aragatsotn region.

According to the rationale of the decision, the creation of the FEZ is aimed at promoting tourism, creating new jobs, attracting investments, as well as forming a healthy lifestyle by building a ski resort that meets high regional standards, which will contribute to increasing the country's tourist attractiveness and sustainable socio-economic development.

The investor is making large-scale investments in the FEZ to build a cable car and ski slopes, as well as an artificial snowmaking system, a skating rink, hotels, a restaurant, other entertainment centers, internal communications and FEZ infrastructure.

Earlier it was reported that about 100 billion drams are planned to be invested in the Myler Mountain Resort ski resort in Yegiptatrush. As of January 2025, about 27 billion drams have already been invested in the development of the resort, and another 10 billion are planned to be invested this year.

The resort is supposed to serve 500 thousand tourists per year from Russia, Iran and Europe.

In August 2024, the territory of Myler was recognized as a free economic zone.

There are currently four free economic zones in Armenia - Alliance, Meridian, Meghri and ECOS.-0-

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