Armenia negotiating with EBRD, ADB to attract funds for creating free economic zone
27.07.2009,
21:40
Armenia is negotiating with European Bank for Reconstruction and Development and Asian Development Bank to attract funds for creating a free economic zone near Zvartnots Airport, Armenian Economy Minister Nerses Nersisyan said Friday at a press conference
YEREVAN, June 27. /ARKA/. Armenia is negotiating with European Bank for Reconstruction and Development and Asian Development Bank to attract funds for creating a free economic zone near Zvartnots Airport, Armenian Economy Minister Nerses Nersisyan said Friday at a press conference.
The Government plans to put the free-zone business project into reality later this year.
The project is estimated to cost $200 to $250 million. The initial stage will cost $50 million.
Nersisyan said that the construction of a logistic center and the free trade zone for trade in fresh fruits and vegetables as well as jewelry will be implemented in several stages.
“Negotiations are being held now with European and Asian development banks on attraction of credits and possible partnership in the project”, Yeritsyan said.
He also aid that Armenian Government asked the Dutch leadership to sent relevant experts to Armenia.
The International Union of Armenian Jewelers expressed willingness to take financial part of the project.
The minister said that the logistic center would engage in transportation of products from fields to the airport and then to other countries.
Yeritsyan said that the project is likely to be expanded in the future.
In his words, elaboration of the business plan will be completed by the end of this year, and after that it will be possible to embark on attracting funds.
The creation of the free economic zone near the Armenian airport will spur Armenian economy, give domestic manufacturers a chance to enter new markets and simplify Armenian export. -0--
The Government plans to put the free-zone business project into reality later this year.
The project is estimated to cost $200 to $250 million. The initial stage will cost $50 million.
Nersisyan said that the construction of a logistic center and the free trade zone for trade in fresh fruits and vegetables as well as jewelry will be implemented in several stages.
“Negotiations are being held now with European and Asian development banks on attraction of credits and possible partnership in the project”, Yeritsyan said.
He also aid that Armenian Government asked the Dutch leadership to sent relevant experts to Armenia.
The International Union of Armenian Jewelers expressed willingness to take financial part of the project.
The minister said that the logistic center would engage in transportation of products from fields to the airport and then to other countries.
Yeritsyan said that the project is likely to be expanded in the future.
In his words, elaboration of the business plan will be completed by the end of this year, and after that it will be possible to embark on attracting funds.
The creation of the free economic zone near the Armenian airport will spur Armenian economy, give domestic manufacturers a chance to enter new markets and simplify Armenian export. -0--
