Armenia is creating a free economic zone for the development of the blockchain

Armenia is creating a free economic zone (FEZ) for the development of high-tech startups from around the world, said representatives of the company Blockchain Armenian Forum (ABF).

The main task of the new cluster will be the organization and regulation of a unique infrastructure for the development of high-tech projects operating on the basis of the distributed registry, artificial intelligence and machine learning. In the SEZ will house an advanced technology center – national «Silicon valley».

For the first half of 2018 it is planned the opening of the international accelerator, which will serve as a platform to launch and develop innovative projects from around the world, as well as the organization on the territory of SEZ of industrial data centers, which will focus on ensuring operating processes of projects based on distributed databases.

«The implementation of this initiative will contribute to the development of high-tech projects in the country, will allow to turn Armenia into one of the technological leaders on the international stage, to attract investment and create new jobs. Of course, it will give an additional impetus to the economic development of the country», – said Suren Karayan, the Minister of economic development and investments of the Republic of Armenia.

We are planning to launch a number of educational and research programs in the field of blockchain technology, artificial intelligence and machine learning.

Assessment Blockchain Armenian Forum, during the first year of activity of the ecosystem are planned to create 250 to 300 new high-paying jobs and attract investments to the country amounting to at least $ 120 million.

«The country has all the necessary resources: human, energy and process, who need to give new impetus and open up new opportunities for development. We believe that today in Armenia is to create a platform for integration and interaction of global trends, international players and local intellectual resources. We appreciate the initiative that shows the government of Armenia and personally by President Serzh Sargsyan in matters relating to the development of high technologies in the country», – said managing partner of ABF Ilya Goldberg.

Integrated consulting, technical and legal support in the implementation of the initiative to create an innovation cluster has an international consulting company KPMG.

Companies-FEZ residents will be exempt from value added tax when rendering services and supplying goods to the territory of FEZ, as well as from income tax.

Now the authors and the members of the working group of the government of the Republic of Armenia is preparing the infrastructure base, tentatively called ECOS, which will create the ecosystem needed to ensure full and complete support of all players new high-tech market.

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