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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 2016 KPMG Armenia. All rights reserved.
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