In Abovyan, Kotayk region, the construction works of the industrial park by the private sector have already begun. Only in the first stage, it is planned to invest about 20 million dollars. A memorandum of understanding has already been concluded between the investors and the state represented by the Ministry of Economy. There will be located companies in instrumentation, machine tool building, and other industries, in case a company meets sufficient criteria for the localization of production. This means that in the Abovyan Industrial Park, entrepreneurs will need to carry out the production process and processing in such a volume that will allow classifying the final product as produced in Armenia. It is expected that in 2023 the industrial park will open in Abovyan.

For the new economic zone, its founders have already received a land plot, and now they are compiling a detailed description of the project. Besides, there are 3 Free Economic Zones in Armenia, which are already exploited: «Alliance», «Meridian» and «Megri». The Free Economic Zone «Alliance» specializes in the production and export of high-tech and innovative technologies in the fields of electronics, precision engineering, pharmaceuticals and biotechnology, information technology, alternative energy, industrial design, and telecommunications. «Meridian» is specialized in jewelry, stone cutting, and watchmaking.  Specialization of «Megri» FEZ is industrial and logistic: in the sphere of agriculture, manufacturing, electricity supply, trade, transportation and economy storage, professional and technical activity, culture, tourism, entertainment, and recreation.

The details on FEZ can be found on the website of the Ministry of Economy of RA: 

https://mineconomy.am/page/360