Armenia opens its representation in the Plug and Play Tech Center in the Silicon Valley

The Armenian Information and High Tech Office was opened at the Plug and Play Tech Center in the Silicon Valley, California. The opening ceremony was followed by the signing of the agreement on the creations of the first Armenian venture fund, which will provide an opportunity to ensure the accessibility of financial investments.

“Many countries have opened their representations in the Silicon Valley, because having a representation here means having a tool that provides perspectives for the development of the private sector,” Armenian Prime Minister Tigran Sargsyan said.

“It’s even more important for Armenia, because it’s impossible to follow the modern developments without being in constant touch with the Silicon Valley, while in this rapidly changing world we have to be aware all novelties,” he added.

Tigran Sargsyan said the memorandum on the construction of a new chip producing company in Armenia is also an important step in the development of the IT sector. “We’ll have chip production, not just a programming company,” the Prime Minister noted.

The Head of Government emphasized the importance of the memorandum signed with the “Intel” Company under which the latter will open its research center in Armenia.

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