Minister of Economic Development and Investments Suren Karayan and Director of Syunik Free Economic Zone LLC Eduard Ghukasyan signed an agreement on April 19 on the organization of FEZ in Syunik province.

The subject of the agreement is the organization of production industrial and logistics FEZ, creation and development of FEZ infrastructures, services provision by the organizer, defining tariffs for other services, implementation of investments, attracting FEZ operators and other legal relations related with the FEZ activity in the fields of agriculture, processing industry, electricity supply, wholesale trade, transportation and logistics, professional and technical activity, culture and entertainment in Agarak urban, Karchevan rural communities of Syunik province. The FEZ will launch in mid-October, 2017. At the first stage over 10 million USD investments will be made by the organizer, and during the activity in the FEZ it is expected to attract over 120 operating companies that will carry out 350-400 million USD investments, will create more than 2500 jobs, and the annual average export will be over 80-100 million USD.