Correct, coordinated policy to help Armenia prevent global crisis effects on it sector

YEREVAN, December 8. /ARKA/. Armenia can prevent possible effects of the global crisis on its IT sector through a correct and coordinated policy, Director of Enterprise Incubator Foundation (EIF) Bagrat Yengibaryan said.

According to him, under the global crisis circumstances many companies may take the advantage of the situation and solve their long-term problems under certain development conditions.

The companies that depended on foreign orders may shut down completely, but some others will appear in quite favorable conditions through application of IT in other fields, Yengibaryan said.

According to the study conducted by the EIF, the turnover of Armenian IT companies exceeded $100mln in 2008. 120 IT companies operating in the country in the period provided a 15% sustainable growth of the sector. 6,000 specialists and 8,000 of auxiliary staff are employed in the sector.

According to Armenian Ministry of Economy, foreign investments in IT sector are at least $10mln with the production output totaling $130mln in 2007, which is an almost 30% increase compared with the year 2006. –0--

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23:29 12/08/2008