Home News Armenian government plans to organize free economic zone with cryptocurrency mining datacenter

Armenian government plans to organize free economic zone with cryptocurrency mining datacenter

Armenian government has issued a decree on the creation of a free economic zone (FEZ) with cryptocurrency mining datacenter in the town of Razdan. “Ekos” company will be tasked with organizing the related ecosystem, as reported by NEWS.am.

The company hopes to raise $15 000 000 for the purpose of FEZ development before 2021. It also plans to attract another $ 30 000 000 of investments for further development. 200 beneficiaries are expected to join the project by 2043.

According to the country’s Minister of Economic Development Artsvyk Manasyan, the FEZ will be split into two zones: headquarters in Yerevan and the mining center proper in Razdan.

The official added, that the project is aimed at attracting foreign investment, strengthening the country’s investment appeal and employment creation.

Back in January, Armenian Blockchain Forum (ABF) platform approached the country’s government with the project of creating yet another free economic zone shaped for blockchain solutions development.