Hakob Arshakyan

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

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YEREVAN (Public Radio of Armenia) — In 2022, for the first time in the history of Armenia, a turnover of more than $1 billion was recorded in the field of high-tech, Deputy Speaker of Parliament Hakob Arshakyan said at the “Investor’s Day for the IT Sector” event on March 10.

He said the number of employees in the sector exceeded 40,000 for the first time.

Referring to the activities of “Enterprise Armenia” investment support center, Arshakyan emphasized the support of the structure in supporting investments in the country. “We welcome the entry of international companies into Armenia, which contributes to the creation of similar Armenian companies,” he said.

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 to Armenia Kristina Kvien made speeches during the event. They referred to the problems of the sector and outlined ways to solve them.

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