Time in Yerevan: 11:07:36,   7 December 2023

Number of high-tech companies in Armenia grew by 25% in 2019

Number of high-tech companies in Armenia grew by 25% in 2019

YEREVAN, JUNE 8, ARMENPRESS. The number of new companies registered in the field of high technology industry in Armenia has increased by 25% in 2019, reaching 1,250, Minister of High-tech Industry Hakob Arshakyan said during the joint session of the parliamentary standing committees, presenting the indicators registered in the fields of high-tech industry and military industry.

“In 2019, we had a 30% growth in the field, the total turnover comprised nearly 320 million drams. This comprises 2.4% in the total GDP. This is, of course, not a bad figure, but according to our estimation Armenia’s potential is much more”, he said, reminding that the growth of high technologies in the 2018 GDP was 0.4%.

The minister linked the growth in the field and the number of companies with the policy run by the government, in particular by granting privileges to the new companies.

Reporting by Anna Grigoryan; Editing and Translating by Aneta Harutyunyan



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