Armenia plans to invest up to 30 billion drams in the creation of new FEZ
YEREVAN, August 15. /ARKA/. The Armenian government today made a decision to establish a free economic zone (FEZ) in the village of Yegipatrush in the Aparan community of Aragatsotn region.
The government says that the creation of the FEZ will help attract investment, raise the country's investment and tourism attractiveness, create new jobs and stimulate sustainable economic development.
The program envisages the construction of a ski resort area that will meet high regional standards.
The total investment in the construction of ski slopes, entertainment centers (toboggan, tubing, magic carpet, zipline, water attractions) and the acquisition of an artificial snow production system is estimated at about 30 billion drams.
According to the program, in addition to the basic infrastructure, a cable car, three hotels, a restaurant, a skating rink, a children's center and a center for key employees will also be built.
It is expected that the establishment of the FEZ will create 1,500 jobs at the first stage, and 10,400 at the second.
Myler FEZ LLC has already invested $15 million in the cre4ation of the relevant infrastructure. According to tourist flow forecasts, by the end of the first stage, it is expected that up to 20,000 people a day will visit the resort area during the winter season.
There are four free economic zones in Armenia — Alliance, Meridian, Meghri and ECOS. -0-
