China will invest $10-15 billion to build a "smart city" in Armenia over the course of 15 years.

The corresponding agreement was signed Thursday between the representatives of the two countries.

As per the respective project, joint companies will be established in this Armenian-Chinese joint “smart city” with a population of about 15,000, and these companies will be engaged in scientific innovations, as well as the development of the latest technologies—in particular, artificial intelligence, "smart" agriculture, medicine, tourism, and banking.

The planning of this “smart city” will begin in 2021.