Currently, Arabkir is mainly a commercial and trade centre within Yerevan. However, many large industrial plants were opened during the Soviet period at the north of district, forming a quite large industrial area. Kanaker Hydroelectric Power Station of the Sevan?Hrazdan Cascade was opened in the area in 1936. In 1943, the Yerevan Watch Factory (currently inactive) was opened, followed by the Precision instruments factory (currently abandoned) in 1946. The Kanaker aluminum smelter (known as Rusal Armenal since 2000) was opened in 1950. Later in 1964, the currently-defunct ErAZ automobile factory was opened, followed by the Yerevan Electrical Lamps factory in 1966 (known as Grand Sun since 2000). In 1967, Urartu manufacturing plant for bread and bakery products was opened.
