"At the core of Armenia's economy should be a vision for the development of high technologies," said the Minister of High-Tech Industry of Armenia Mkhitar Hayrapetyan, during the conference on the topic "The Role of International Corporations and Investors as Catalysts for the Development of the High-Tech Ecosystem" on May 13.
"The foundation of Armenia's economy should lie in the vision for the development of high technologies not as a separate sector, but as a locomotive for all other sectors of the economy," the minister said.
Speaking about the necessity of attracting international investments into the sector, he emphasized that the Armenian government is aware of its responsibility. "In this context, I presented the key steps we are taking to make the investment climate more attractive," the minister noted.
Earlier, BMG reported that the turnover of Armenia's IT sector in 2023 amounted to 837 billion drams ($2.12 billion), which is 252 billion drams (over $630 million) or 43% more than in 2022. Approximately 87%, or 755 billion drams ($1.91 billion), of the IT sector's turnover was realized in external markets (i.e., exported), while 13%, or 114 billion drams, was in the domestic market.
