Armenia Reports $1 Billion Turnover in High-Tech Industry for First Time

YEREVAN (Armradio) — In 2022, for the first time in the history of Armenia, a turnover of more than 1 billion dollars was recorded in the field of high-tech industry, Deputy Speaker of Parliament Hakob Arshakyan said at the “Investor’s Day for the IT Sector” event in Yerevan.

He said the number of employees in the sector exceeded 40 thousand for the first time.

Referring to the activities of “Enterprise Armenia” investment support center, the National Assembly Vice-Speaker emphasized the support of the structure in supporting investmenrs in the country. “We welcome the entry of international companies into Armenia, which contributes to the creation of similar Armenian companies,” said Hakob Arshakyan.

The speaker referred to the increase in funding for science, noting that it amounts to more than 30 billion drams in 2022.

Arsahkyan urged to join forces to train high-quality specialists In order to overcome the challenges in the changing and developing geopolitical environment.

Deputy Prime Minister Tigran Khachatryan, Minister of High-Tech Industry Robert Khachatryan, Director General of “Enterprise Armenia” investment support center Levon Ohanesyan, US Ambassador Extraordinary and Plenipotentiary to Armenia Kristina Kvien made speeches during the event. They referred to the problems of the sector and outlined ways to solve them.

From the point of view of the development of the sector, the effective cooperation of the business sector and government agencies was highlighted. The necessity of training new specialists in the field was emphasized, the reforms aimed at improving the operating conditions of the IT sector companies were highlighted.

Then, in the format of panel discussions, the issue of our country’s workforce in the field, the quality of education in some professions, as well as the implementation of general data protection regulations were addressed.