The Italian Il Foglio has tracked the technological advancement of Armenia in a new article.
“Once a technological hub of the former USSR, Armenia has redefined its destiny and emerged from its geographical isolation through technological development. The IT sector is a significant part of the country’s economy and is growing at a rate of 20% annually,” the paper writes.
“Over the past decades, this small, landlocked country has transformed into a Silicon Valley in the South Caucasus and become home to companies such as Foundation for Armenian Science and Technology (FAST), PicsArt, TUMO and IUNetworks. The latter, with about 250 employees, has introduced solutions for the digitization of public administration in a number of countries, including Armenia itself, where tax collection is almost completely digitized,” the article noted.
The European Friends of Armenia (EuFoA) NGO and FAST provided organizational and logistical support for the preparation of this article.
