The Armenian government approved Gyumri FEZ in 2019. It is slated to open in 2022 as a logistics and industrial free trade zone. The aim is to develop export-oriented manufacturing as well as e-commerce related warehousing and generally bring in foreign direct investment into the country and create jobs. The project is an Israeli-Armenian joint venture.
The city of Gyumri is the second largest in Armenia with a population of around 110,000. This provides for a potential workforce expected to be over 10,000. Also the city hosts Shirak International Airport and is also close to the borders of both Georgia to the north and Turkey to the west. Therefore the location in Gyumri FEZ of a logistics hub and manufacturing centre in one of the crossroads of Eurasia. This free economic zone benefits investors and Armenia.
- Total area: 391 hectares
- Land tenure: 50 year leasehold
- Year opened: Planned first phase 2022
- Key industrial sectors: Garments & Textiles, electronic and optical devices; food industry; furniture manufacturing; information and financial services; automotive industry, car services; wholesale and retail electronic commerce; auto and air freight; rental of air transport.
- Airport: Shirak International Airport