Acting Minister of Economic Development and Investments of the Republic of Armenia Tigran Khachatryan and "Ecos" CJSC Director General Zarmine Zeytuntsyan signed an agreement on the organization of the free economic zone created in Hrazdan. The document defines the functions, responsibilities of the FEZ organizer, as well as the relations with the state, according to the information and public relations department of the RA Ministry of Economic Development and Investments.

The free economic zone in Hrazdan is aimed at the development of high technologies in the country. Hrazdan FEZ organizer is “ECOS’ company. Based on the FEZ, a unique ecosystem will be set up that will include a range of infrastructure services, educational and communication projects, research laboratories, and electronic platforms to attract investments in new emerging projects.

Within the framework of the FEZ, based on the Hrazdan HPP, an ECOS industrial development center will be established which will become part of the technological cluster for innovative start-ups as well as serve as a data-storage center for FEZ.

ECOS is an innovative ecosystem that includes data centers, industrial mine condenses, venture fund, research laboratory for innovation development, educational platform, acceleration projects and "Armenian Blockchain Conference" information and educational forum.

The purpose of the ‘ECOS’ project is to create favorable conditions for organizations operating in the field of high technologies, which produce export-oriented products.

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