{"id":2490,"date":"2021-03-17T18:48:44","date_gmt":"2021-03-17T12:18:44","guid":{"rendered":"https:\/\/directorsdirectory.com\/?post_type=listing&p=2490"},"modified":"2024-05-11T18:18:26","modified_gmt":"2024-05-11T11:18:26","slug":"fez-gyumri","status":"publish","type":"post","link":"https:\/\/directorsdirectory.com\/fez-gyumri\/","title":{"rendered":"Gyumri FEZ"},"content":{"rendered":"\t\t
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Armenia - \u0533\u0575\u0578\u0582\u0574\u0580\u0578\u0582 \u0531\u054f\u0533<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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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.<\/p>\n

Gyumri Free Economic Zone (FEZ) is a designated area in Gyumri, Armenia, established to promote economic development and attract foreign investment to the region. The FEZ covers an area of 105 hectares and is located in the Shirak province of Armenia, near the borders of Turkey and Georgia. It is managed by the Gyumri FEZ Development Foundation, a non-profit organization.<\/p>\n

The FEZ offers a number of benefits to companies operating within its borders, including tax incentives, simplified customs procedures, and access to a skilled workforce. Companies operating within the FEZ also have access to a range of infrastructure and support services, including modern office facilities, high-speed internet, and transportation services.<\/p>\n

The Gyumri FEZ has attracted a number of companies from various sectors, including manufacturing, logistics, and technology. Some of the key industries represented in the FEZ include food processing, textile manufacturing, and IT services. The FEZ has also attracted a number of international investors, particularly from neighboring countries such as Iran, Georgia, and Russia.<\/p>\n

Advantages of Gyumri FEZ<\/h3>\n

One of the key advantages of the Gyumri FEZ is its strategic location, which provides easy access to major regional markets such as Turkey, Georgia, and Iran. The FEZ is also located near major transportation routes, including the North-South highway and the Transcaucasian Railway. This makes it an ideal location for companies looking to expand their operations in the region.<\/p>\n

Despite its many advantages, the Gyumri FEZ still faces some challenges. One of the main challenges is the lack of adequate infrastructure in the region, particularly in terms of transportation and energy. Additionally, the FEZ is still relatively unknown to many potential investors, and there is a need for greater promotion and awareness of its benefits.<\/p>\n

Overall, the Gyumri FEZ represents a significant opportunity for companies looking to expand their operations in Armenia and the wider region. Its strategic location, favorable business environment, and range of incentives make it an attractive option for investors. However, there are still challenges to be addressed in order to fully realize its potential.<\/p>\n\n

The city of Gyumri<\/a> is the second largest in Armenia<\/a> 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.<\/p>\n\n

Additional Details for Gyumri FEZ<\/h3>\n\n