YEREVAN, MARCH 23, ARMENPRESS. A consultation was held in the Government of Armenia led by Prime Minister Karen Karapetyan during which issues related to the establishment of free economic zone in Syunik province were discussed, press service of the Government told “Armenpress”.

Minister of Economic Development and Investments Suren Karayan reported that as a result of a discussion with the representatives of the Chamber of Commerce and Industry and Syunik Free Economic Zone LLC it is planned to establish a Syunik FEZ organizer company.

PM Karapetyan was introduced in-detail on the steps of formation of free economic zone, formula of public-private sector cooperation, the first stage of organization and program implementation risks management. It was reported that 2.5-3 million USD will be invested for the 1st round of works, and the duration and deadline for completing the construction will be set under Government’s respective decision.

The PM tasked to accelerate the process and submit a draft decision on establishment of free economic zone in Syunik at the Government’s upcoming session. Karen Karapetyan said by the adoption of the respective decision the Government will approve the application to create free economic zone in Syunik, and in autumn, 2017 it will start to operate.