YEREVAN. – Meghri Free Economic Zone is opening on December 15.

The economic zone will be opened by Armenian Prime Minister Karen Karapetyan, the Armenian News-NEWS.am correspondent reports from Meghri.

Minister of Economic Development and Investments Suren Karayan noted that the goal of the free economic zone is to attract foreign direct investment, to increase the country's investment attractiveness, stimulate export-oriented activities, to increase exports, create new jobs and promote sustainable economic development.

According to him, free economic zone will develop in two stages. At the final stage, the territory of the zone will be 70 hectares. In the coming years, it is planned to attract 50 to 70 companies with investments totaling around $130-150 million as well as to create about 1,500 new jobs. The volume of exports will amount to 350 million, while the period of validity of the free economic zone is 50 years.

The Armenian government founded Meghri Free Economic Zone CJSC, a 100% stake in which is managed by All-Armenian Fund, the company of closed non-public contractual investment fund.