10 operating companies are present in the Armenian “Alliance” and “Meridian” free economic zones, whose investments will amount to 101, 2 million dollars. Minister of Economy Artsvik Minasyan said during the Cabinet meeting, adding that the investment will create 450 new jobs. As “Hayern aysor” reports, the Government granted the “BAGEZYAN” LLC an operating permit in the “Meridian” free economic zone.

A $ 68.5 million investment program is planned for implementing in jewelry and silversmithing spheres. According to Minasyan, in the upcoming 5 years the company will create at least 70 new jobs with an average salary of $ 250-500. “The company plans to expand exports to major destinations in Russia and the Eurasian Economic Union countries, USA, Canada, European countries, UAE, Hong Kong, Mexico, Iraq, Israel, with the annual export volume of over 9.5 million dollars in the near future,” the minister said.

The newly created “BAGEZYAN” LLC is member of the “BaG Jewelry” company, which has 30 years of history in the international jewelry industry. The company has more than 10 thousand trademarks. The company will have 700 square meters of production area in the “Meridian” FEZ.