On April 2, 2021, the RA Minister of Economy Vahan Kerobyan visited Abovyan community to get acquainted with the programs on establishing a free production zone and founding a sustainable community within the framework of the “Build Armenia” project, as well as discuss the cooperation framework.

At Abovyan Municipality, in presence of the Kotayk Governor Mesrop Mesropyan and Abovyan Mayor Vahagn Gevorgyan, the Minister of Economy Vahan Kerobyan and the Director of “Hayprospect” CJSC, “Build Armenia” program coordinator Sevak Artsruni signed a Memorandum of Understanding between the RA Ministry of Economy and “Hayprospect” CJSC “On encouraging sustainable community-building in Armenia and implementation of “Build Armenia”.

In his speech Vahan Kerobyan noted that according to the Memorandum the Ministry of Economy is obliged to support the construction of a large industrial-residential complex by “Hayprospect” CJSC, where many businesses, educational institutions, and people will be located. The Minister of Economy considered the program to be very progressive and asked Sevak Artsruni to present it briefly.

Sevak Artsruni informed that the program is in its initial stage․ The greater part of the land needed, about 70 hectares, has already been acquired, the logistical work has started, offices are being built, the earthworks have started and setup of the construction base has started, which, according to the plan, will immediately be followed by the earthworks of the production zone.

It is expected the industrial zone infrastructure will be ready by the end of the year. So far $6 million has been invested in the program, whereas by the end of the year investments will be estimated at $20-30 million. According to preliminary estimates, the total cost of the project will be up to $1 billion.

Sevak Artsruni noted with satisfaction that a Memorandum was elaborated and signed with the Mayor of Abovyan two months ago, and he is delighted that a Memorandum was signed today with the Ministry of Economy as well, for the participation and support of the RA government and community in the program implementation is very important.

“Of course, this is a business activity, and naturally there is the intention to make profit, but we also consider this an important endeavor for the homeland, for our ultimate goal is repatriation. We know this country can be strengthened with the help of 10 million Armenians, if organized properly. We are grateful to have achieved this result today and we shall be able to ensure this format”, concluded Sevak Artsruni.

Then, Sevak Artsruni accompanied the Minister of Economy, the Governor of Kotayk, and the Mayor of Abovyan to the construction site and presented on site the ongoing works.

“Hayprospect” CJSC has set itself the task of giving priority to war veterans, disabled servicemen, and wives of killed freedom-fighters when involving employees in the processes envisaged by the program. The process of their hiring on as needed basis is planned to start in May. Preference will be given to the residents of Abovyan community and surrounding villages.

The “Hayprospect” community will be the first in the region to be sustainable in environmental cleanliness, energy sufficiency, economic efficiency and other terms, which will be built in the vicinity of Abovyan, Arzni, and Balahovit communities of Kotayk Marz, on about 100 hectares of land stretching from the railway station of Abovyan to Yerevan-Sevan highway. The aim of the program is to build an environmentally clean community with sustainable infrastructure and cost-effective resources, around which a network of production units and new technology centers will be formed supplemented with adjacent residential and public premises. Stable conditions for continuous development of the country will be formed around this network in the whole territory of Armenia, whereas sustainable and innovative technologies will create new jobs in the local labor market.

It is envisaged that the community will include the “Hayzone” production district (a free economic zone), the “Hayzone” customs warehouses zone, the high-tech research and development center “Haytech Park”, the agricultural research and development center “Hayranch”, a residential district for up to 10,000 residents, educational and healthcare facilities, and green areas.