Armenia to establish legal mechanisms for developing free economic zones

The newly appointed Armenian minister of economy, Tigran Davtyan, has submitted to the cabinet the Draft Law on Free Economic Zones which establishes legal mechanisms for creating free economic zones in the country.

He said the law, which is aimed primarily at establishing free trade zones at the Zvartnots Internaitonal Airport and in the viccinity of the Mars plant, will contribute to the successful implementation of current projects.

The drtaft got Prime Minister Tigran Sargsyan's approval.

"Those programs should be transparent, comprehensible and controllable. They can be implemented only after being approved by the cabinet. That will enable us to conrol all the possible risks," the premier said.

The bill has been approved by the cabinet.