Public Radio of Armenia
Information Technologies is one of the most dynamically developing fields in Armenia. Its share in the GDP reaches 4% annually. Director of Synopsis Armenia Company Hovik Musaelyan says more women are involved in the IT sphere in Armenia than in the US. While only 9 % of the employees involved in the IT filed in the United States are female, in Armenia their number reaches 27%.
Musaelyan said newly formed companies based on the Armenian capital face the problem of entering the global market. The market is saturated, and it seems impossible to be represented there, he said, but added, however, that “when there are interesting ideas, we always find funds to support them.” Venture funds both in Armenia and the world are looking for best ideas to finance start-up companies.
Back in 2000 the Armenian government declared Information Technologies as a priority direction. The National Assembly has passed a bill at first reading, under which IT companies with less than 15 employees will be exempt from profit tax, while the employees will pay only 10% in income tax.