Director of Enterprise Incubator Foundation Bagrat Yengibaryan says 70% of Armenia’s IT sphere production is currently exported.
Therefore, their entry to free economic zones may become a serious competitive advantage for them, he said at the discussion on “Prospects of creation free economic zones (FEZ) in Armenia and their potential impact on IT industry” on March 21 in Yerevan.
He cited the experience of Armenia’s neighboring states and other countries which create favorable environment for their companies, including reduced bureaucracy in import and export operations.
Yengibaryan informed that Enterprise Incubator Foundation together with the Union of Information Technology Enterprises (UITE) discuss possible participation in FEZ of companies dealing with equipment assembling and software development.
On June 21, 2011 Armenian President Serzh Sargsyan signed the “law on free economic zones” aimed at settlement of export problems and creation of favorable conditions for export-oriented enterprises.
Coming years envisage formation of 2-3 free economic zones in agro and industrial fields at Zvartnots Airport and Mars plant respectively, with negotiations currently in progress with jewelers.
