IT in Armenia

An "Armenian IT" day will be held in Silicon Valley (via Groong):

Armenia-based branches of several US IT companies have given their preliminary consent to organize "the Armenian ITDay" at the famous Silicon Valley in California, which they hope will be attended by representatives of the leading US IT companies. The showcase of Armenia-based companies' products is supposed to give a full picture of the present day Armenian IT sector, its successes, achievements and potential.

The related expenses are supposed to be covered by Yerevan branches of Viaspher Technopark, Virage Logic, Leda Systems and other US companies which have their subsidiaries in Armenia.

Armen Grigorian, the secretary of an IT development council, affiliated with the prime minister, said a set of amendments will be sent to parliament's approval aimed at further improvement of the related legislation, particularly, some of the amendments have been developed to liberalize the communications sector. Also Viaspher Technopark has drafted a bill on free economic zones and performance of technoparks, which he said will be soon discussed by the government and sent to parliament.

According to Grigorian, the IT sector has been steadily growing at 20 percent annually. The amount of some 120 companies' income, remaining in Armenia is around $50 million. Half of this income is made by companies running on Armenian capital only and the other part by companies with US capital. US branches pay all obligatory payments.

Posted by Matt on April 16, 2004 | TrackBack | Email to a friend