Armenia to open representation in the Sylicon Valley

The regular sitting of the Information Technologies Development Support Council took place at Synopsis Armenia Company. The sitting was chaired by Prime Minister Tigran Sargsyan.

Director of the Enterprise Incubator Foundation Bagrat Yengibaryan presented the latest developments in the IT sphere. He noted, in part, that the growth reached 25% as compared to 2011. The number of IT companies increased from 281 to 350. The turnover in the field totaled $200 mln and is expected to reach $250 mln this year.

Most of IT production is exported to the US, North America and Europe. According to Yengibaryan, the human resources, the research and innovative programs are the main competitive advantage of our country in the IT sphere.

Touching upon the development of the IT sector on Artsakh, Yengibaryan said “Synopsis” and “Tumo” centers are expected to open their representations in Artsakh.

During the meeting reference was made to the organization of ArmTech-2012 Congress, which will take place in the Sylicon Valley December 10-11. Special emphasis was put on the cooperation with world-known companies and development of new ideas. The Congress will feature guests from the United States, a number of European and Asian countries and Australia.

An Armenian representation is expected to be opened in the Sylicon Valley. An Agreement will be signed with Intel, under which the company will open its office in Armenia.

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