Unique free economic zone to yield advanced tech solutions in Armenia

Unique free economic zone to yield advanced tech solutions in Armenia

PanARMENIAN.Net - A free economic zone will be created in Armenia to host an advanced technological center - the Armenian Silicon Valley - the Armenian Blockchain Forum said in a statement on Monday, January 15.

The idea was approved by both the government and the ABF.

The cluster is tasked to organize and regulate a unique infrastructure in Armenia for attracting and developing technology projects from abroad.

An international accelerator will operate on the territory of the FTZ which will serve as a platform for launching and developing innovative projects from all over the world.

Also, it is planned to create technical areas and databases aimed at the launch and support of a decentralized technology network.

According to the ABF, the ecosystem is expected to yield 250-300 new high-paying jobs and foreign investments worth $120 million.

 Top stories
Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT).
Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues.
Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls.
Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020."
Partner news
---