Armenia sees 25.2% growth in IT in 2014 – newspaper

YEREVAN, January 22. /ARKA/. Armenia’s IT sector, unlike the other economic sectors in the country, shows a stable development dynamics and growth rates of 20-22% on average in the last years, deputy minister of economy Emil Tarasyan told Novoye Vremya newspaper.

There are 396 active IT companies in the country, of them 157 are affiliates of foreign companies. About 11,560 specialists are employed in the sector, 560 more than last year, Tarasyan said.

The growth is 25.2% and annual turnover is close to $475 million as of the end of 2014, the deputy minister said as cited by the newspaper.

As a rule, investments in innovations and education are always justified, even under unstable and crisis conditions, according to Tarasyan.

US and EU sanctions against Russia make major foreign IT centers in Moscow seek new locations for their potential, and Armenia is quite attractive for them, according to the deputy minister.

The government is getting prepared for new realities, is creating infrastructures, initiating ambitious projects to bring key global players into Armenia, Tarasyan said. –0--