Armenian National Assembly President Hovik Abrahamyan today visited the Meridian jewellry free economic zone now under construction in Yerevan.  

The government is banking on the hope that foreign investors will be attracted and create some 1,200 jobs sometime in the future.

The government decided to create the zone in February of this year and appointed a firm called AJA Free Economic Zone Ltd to manage the site.

AJA (Armenian Jewellers Association) President Gagik Gevorgyan told Abrahamyan that the organization has invested some US$14 million to renovate production and ancillary sites, to create needed infrastructure, and to purchase additional properties.

To date, eight preliminary contracts have been signed with companies from Russia, the U.S., Algeria and Jordan to set up shop at the site. Negotiations are on-going with another twelve companies.

In October 2014, the annual Yerevan International Jewellry Show  will take place at the site along with the annual meeting of the AJA.