According to the press service of the Asian Development Bank (ADB), a delegation from the bank visited Armenia from October 28 to November 1 to evaluate the potential for creating a Special Economic Zone (SEZ) in Gyumri.
During the visit, ADB experts conducted a comprehensive analysis of the legal and regulatory framework for the proposed SEZ, identifying gaps in the current conceptual project. Particular attention was given to assessing investment opportunities and infrastructure needs.
The bank’s representatives held a series of meetings with officials from the Ministry of Economy, the Gyumri Municipality, representatives of existing free economic zones, and private sector stakeholders. Discussions focused on evaluating Gyumri’s potential as a site for the SEZ, including an analysis of tax incentives, infrastructure development requirements, and the role of logistics services in enhancing regional trade.
As highlighted in the ADB statement, the establishment of a Special Economic Zone in Gyumri could become a significant step in advancing the economy of Armenia’s second-largest city and the broader region.
