Investor Presentaiton
12 Investment guide Armenia
1 Source: EIF Armenia
KPMG
Investment
Opportunities
IT and High Tech
Armenia is an attractive technology
market with tremendous potential,
competitive labor force, strategic
location and business environment
that offers great opportunities both for
established and start-up entrepreneurs
and investors.
As the Soviet Union's main hub for
software development, industrial
computing, electronics, and
production of semiconductors,
Armenia has kept its huge potential
for technology development and
continues to be the regional leader in
ICT and High-Tech industry.
Yerevan is at the top of the
competition pool alongside cities
such as Bangalore, Mumbai, Delhi,
Chennai, Ottawa, Montreal, Tel
Aviv, Dublin, Kiev, Moscow, and
St. Petersburg. Investors choose
Armenia for their investments due
to the availability of trained, well-
educated, English-speaking software
programmers and engineers,
affordable skilled professionals, low
production costs, strong infrastructure
(i.e. electricity and internet), the
Armenian government's favorable
policies towards outside investors,
cultural compatibility, existence of
intellectual protection laws, and
geographic location.
There are 429 IT companies that
operate in Armenia right now. Average
annual productivity amounts to USD
48,000 per technical employee with
the total workforce employed by the
IT sector is 15,000 specialists. The
total turnover of IT industry is 559
million U.S. dollars.
Armenian IT companies specialize
in mobile and cloud solutions,
embedded software development and
semiconductor design, customized
software and outsourcing, financial
software, multimedia, web design,
information systems and system
integration, etc.
The recent developments in IT/
High-Tech sector in Armenia showed
transition from being an outsourcing
industry to an R&D generating
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