Armenia approves bill to set up new FTZ near Iran’s border

EghtesadOnline: Armenian government on Thursday adopted a bill for setting up Meghri Free Trade Zone in the vicinity of Iran’s border.

News ID: 775032

Meghri is a town in southern Armenia, located in the Syunik province, near the border with the Islamic Republic of Iran along Aras River.

According to IRNA, at least $ 3 million is to be invested in the first year at the 32-hectare Meghri Free Trade Zone.

Some 120 foreign investors are to invest between $ 350 to 400 million to increase the value of exports in the region to $ 100 million in a year and also to create job opportunities for over 2,500 workers.