Passes law on free economic zones
21 Jun 2011
On 21 June 2011, the President of Armenia signed the Law “On Free Economic Zones” (FEZ), adopted by the Parliament on 25 May 2011. It aims to contribute to the creation of a favourable economic climate and the development of export-oriented activities, with active participation from foreign investors. Residents of FEZs will enjoy preferential treatment on corporate profit tax, value added tax, property tax and customs duties. Each FEZ will be created by a separate decision of the Government, and if the FEZ does not prove successful within a year, it can be closed by the Government.
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Type:
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Promotion and facilitation (Special economic zones)
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Industry:
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