An Armenian government has announced that armenian city Razdan will become the fourth free economic zone (SEZ) in the country with a data center for mining. The organizer of the SEZ ecosystem is ECOS, which will be responsible for the development of the technological cluster.
The main task of the FEZ will be the creation of infrastructure for the development of projects that work on the basis of blockchain, artificial intelligence and machine learning.
Ecosystem of FEZ will include educational and communication projects, research laboratories, electronic platforms for attracting investments in start-ups and a data center for mining. Residents of the free economic zone will receive a zero VAT rate and will be exempt from income tax for 25 years.
At the first stage of the ecosystem, ECOS plans to attract more than $100 million of investments.