On August 15, the Armenian government approved the creation of a new Free Economic Zone (FEZ) in the village of Yegipatrush, Aragatsotn Province. The project will be organized by Myler Mountain Resort.
The primary goal of the FEZ is to build a high-class ski resort that will enhance the country’s tourism appeal and contribute to the sustainable socio-economic development of the region.
The project involves significant investments in infrastructure, including:
- Over 100 km of ski slopes at altitudes ranging from 1,950 to 2,850 meters
- Cable cars
- An artificial snowmaking system
- Hotel complexes of three types (ranging from 20 to 180+ rooms)
- Restaurants and entertainment centers
- Infrastructure for both winter and summer activities
In addition to ski tourism, the FEZ plans to develop spa treatments and medical rehabilitation services using local natural resources.
The organizer’s total investment is projected to reach 30 billion AMD. The project is expected to create 1,500 jobs in its first phase and up to 10,400 in the third phase.
The total area of the FEZ will cover approximately 2,080 hectares, part of which will be owned by the organizing company, while the rest will be leased out.
