Free zone at “Zvartnots” airport
The RA Ministry of Economy and Corporation America SA signed an agreement on cooperation for the creation of a free economic zone. According to the agreement, there will be wholesale and retail trade of fruits, vegetables, golden items and diamonds near "Zvartnots" airport.
Minister of Economy Tigran Davtyan avoided mentioning any period since that depends on technical and technological issues. The minister added that in addition to this, it is also envisaged to form another free economic zone based on the Mars Factory, which in this case will be industrial. It is assumed that it will be a state-of-the-art economic zone.
Representing Corporation America SA, General Manager of Armenia International Airports CJSC Marcelo Venden mentioned that the goal is to turn the airport into a center for transfers and connect Armenia to the entire world.
"By making these changes, we will have the opportunity to include many companies so that they can organize their production here," said Venden, adding that their group is also directing a free economic zone in Argentina.
According to economist Samvel Avagyan, the creation of a free economic zone near "Zvartnots" airport will ensure accelerated economic growth and will free businessmen from certain fines for registration and more.
The economist says in Armenia's case the legislation is still unspecified, and only after the government's adoption will it be possible to give evaluations on the principles of the free economic zone.
Samvel Avagyan clarified that the creation of a free economic zone near "Zvartnots" airport will be important for Armenia to be part of the European market. "The zone at "Zvartnots" can't play an important role for Armenia to move toward Russian, Georgian and Ukrainian markets since the mechanisms are developed and have been functioning for many years," said Avagyan.
Since the main direction of the free economic zone at "Zvartnots" airport will be food reprocessing and the export of produce, villagers will be given all opportunities, the ability to enter the free economic zone independently and take advantage of all privileges. The villagers will also be offered services by mediating organizations. It is still unclear as to how much villagers will be paid.
