Monday, December 19 2016 19:04
Naira Badalian

Minister of Transport, Communications and IT: Armenian PicsArt application may become leading company in IT field of the country

Minister of Transport, Communications and IT: Armenian PicsArt application may become leading company in IT field of the country

ArmInfo. Minister of Transport, Communications and IT of Armenia Vahan Martirosyan considers that Armenian PicsArt application may become driving force of IT field in Armenia. The Minister came to this conclusion after having a number of meetings on various levels with the representatives of companies as well as start-ups in IT. ''Today PicsArt is famous all over the world and its market price is already estimated at $250 mln. We hope that soon the company may become the leading program in the country'', Vahan Martirosyan stated.

According to the Minister in order to boost development of Information and Communications Technologies activities for developing a legislation package have been launched. The Minister stated that the legislative reforms envisage setting tax benefits for the representatives of the field. ''The draft will be soon presented to the government'', the Minister stated. Work has almost finished on establishing 16 representative offices in Armenia's embassies aimed at demonstrating IT potential of the country. Work has launched on founding a Center of Cyber Security for ensuring IT systems security. Minimal standards have been developed, to which network operators providing services to state agencies should meet. At the same time according to Vahan Martirosyan nearly 500 mln drams will be saved as a result of optimization of work of IT providers of services to state bodies.

To recall, on November 3 Armenian Prime Minister Karen Karapetyan held a consultative meeting on the prospects of development of information and telecommunication technologies. "I need a program to turn the world upside-down.  What changes should we make so that your industry, your business and the market could develop in addition to specific programs? What is preventing you? I need to realize your policies in terms of both specialist training and increased productivity in the GDP." Karen Karapetyan said that the Government is going to establish an investment fund, which will provide a mechanism to assist businesses, including the field of information and telecommunication technologies.  The Prime Minister instructed the Minister of Transport, Communication and Information Technologies to work with IT sphere representatives in order to generate clear synergies and develop targeted measures to offer specific proposals with practical results.

Last year Forbes published top-50 startups of 2015, the companies most attractive for the investors. PicsArt mobile application by Armenian developers held the fifth position estimated at $250 mln. PicsArt graphic editor was developed in 2011 by Armenian start up company established by Hovhannes Avoyan and Artavazd Mehrabyan. It reached success in 201, when free application was developed for iOS and Android. The program which is available in 13 languages, has already been downloaded by 250 mln users all over the world. PicsArt is considered competitor of Instagram. It can be used for editing photos, making collages and drawing. It also has a built-in social network for sharing your photos. Some of the tools it has include crop, perspective, stretch, tilt shift, artistic filters, borders, masks, text, lens flare and speech bubbles. In 2015 PicsArt received investments amounting to $10 mln from US Sequoia Capital venture fund.

According to the data of 2015 there are 500 companies operating in IT field in Armenia. The field ensures 20-25% y-o-y growth annually. The share of IT field in GDP totals 3.8%. According to the development strategy of the field it is planned to increase IT field turnover to $1 bln by 2018.


News
Economy Ministry announces launch of program to assist textile  industry in ArmeniaEconomy Ministry announces launch of program to assist textile  industry in Armenia
Government is preparing programs to support domestic producers in  view of lifting of embargo on Turkish importsGovernment is preparing programs to support domestic producers in  view of lifting of embargo on Turkish imports
Armenian NPP and Rusatom Overseas to sign Memorandum of UnderstandingArmenian NPP and Rusatom Overseas to sign Memorandum of Understanding
Vahagn Khachatryan to head Armenian-Bulgarian intergovernmental  commission on economic and scientific-technical cooperationVahagn Khachatryan to head Armenian-Bulgarian intergovernmental  commission on economic and scientific-technical cooperation
Minister of Health of Armenia will head intergovernmental commission  on trade and economic cooperation with LithuaniaMinister of Health of Armenia will head intergovernmental commission  on trade and economic cooperation with Lithuania
Ministry of Economy: Armenia intends to reach 7% economic growth in  2022Ministry of Economy: Armenia intends to reach 7% economic growth in  2022
Labor productivity in Armenia is lower than EAEU averageLabor productivity in Armenia is lower than EAEU average
Acba Bank Brings Apple Pay to Customers. A safer, more secure and private way to pay with iPhone and Apple WatchAcba Bank Brings Apple Pay to Customers. A safer, more secure and private way to pay with iPhone and Apple Watch
By the end of 2022, inflation in Armenia will decrease to 4 +/-1.5%:  Candidate for Deputy Governor of Central BankBy the end of 2022, inflation in Armenia will decrease to 4 +/-1.5%:  Candidate for Deputy Governor of Central Bank
 Converse Bank Brings Apple Pay to Customers  A safer, more secure and private way to pay with iPhone and Apple Watch Converse Bank Brings Apple Pay to Customers A safer, more secure and private way to pay with iPhone and Apple Watch
Armenia`s premier chairs discussion of wine industry development  prospects  Armenia`s premier chairs discussion of wine industry development  prospects  
Ardshinbank Brings Apple Pay to CustomersArdshinbank Brings Apple Pay to Customers
Cash circulation to be restricted in Armenia from July 1, 2020Cash circulation to be restricted in Armenia from July 1, 2020
Environmental protection ARMENAL`s priorityEnvironmental protection ARMENAL`s priority
Armenia`s Minister of Economy appointed Armenian-Moldavan Economic Cooperation Commission co- chairArmenia`s Minister of Economy appointed Armenian-Moldavan Economic Cooperation Commission co- chair
Armenia`s minister of economy appointed co-chair of Armenian-Kazakh Economic Cooperation  CommissionArmenia`s minister of economy appointed co-chair of Armenian-Kazakh Economic Cooperation  Commission
Armenia`s Minister of Economy appointed co-chair of Armenian-Kyrgyz Economic Cooperation  CommissionArmenia`s Minister of Economy appointed co-chair of Armenian-Kyrgyz Economic Cooperation  Commission
In 2021, the number of subvention programs in Armenia exceeded the  two-year figureIn 2021, the number of subvention programs in Armenia exceeded the  two-year figure
ANIF Fund will invest about USD 1.4 million in transport and cargo  transportation fieldANIF Fund will invest about USD 1.4 million in transport and cargo  transportation field
Food Safety Inspectorate of Armenia imposes restrictions on import of  number of goods from Kazakhstan, Russia, Czech Republic and PolandFood Safety Inspectorate of Armenia imposes restrictions on import of  number of goods from Kazakhstan, Russia, Czech Republic and Poland
Only 5.5% of the highway was built under North-South program in 12  yearsOnly 5.5% of the highway was built under North-South program in 12  years
President of Armenia at meeting with Executive Director of Mubadala  noted Armenia`s interest in investments from  UAEPresident of Armenia at meeting with Executive Director of Mubadala  noted Armenia`s interest in investments from  UAE
The influx of foreign investment in the Armenian economy grew by  October 2021 due to a jump in FDIThe influx of foreign investment in the Armenian economy grew by  October 2021 due to a jump in FDI
EDB analysts presented the first in this year macroeconomic review:  Economic activity in Armenia increased by 5.2%EDB analysts presented the first in this year macroeconomic review:  Economic activity in Armenia increased by 5.2%
Armenian president`s visit results: Wizz Air Abu Dhabi to start  flights to YerevanArmenian president`s visit results: Wizz Air Abu Dhabi to start  flights to Yerevan
Armenia`s president meets with Masdar company CEOArmenia`s president meets with Masdar company CEO
The price of gas at the border in 2022 was regulated by an additional  agreement to the contract of 2013 - Ministry of Territorial  Administration and InfrastructuresThe price of gas at the border in 2022 was regulated by an additional  agreement to the contract of 2013 - Ministry of Territorial  Administration and Infrastructures
Vahan Kerobyan will head Armenian-Belarusian intergovernmental  commission on economic cooperation from Armenian sideVahan Kerobyan will head Armenian-Belarusian intergovernmental  commission on economic cooperation from Armenian side
Fly Arna, Armenia s national airline plans to launch air flights at  the end of MayFly Arna, Armenia s national airline plans to launch air flights at  the end of May
Gnel Sanosyan to head the Armenian-Turkmen intergovernmental  commission on economic cooperation from the Armenian sideGnel Sanosyan to head the Armenian-Turkmen intergovernmental  commission on economic cooperation from the Armenian side
Pashinyan formed working group for effective implementation of work  on construction program of small- medium reservoirsPashinyan formed working group for effective implementation of work  on construction program of small- medium reservoirs
Export of goods up to one million drams in Armenia will be exempt  from customs dutiesExport of goods up to one million drams in Armenia will be exempt  from customs duties
Armenia`s government grants loan to Armenian NPP Armenia`s government grants loan to Armenian NPP 
FLYONE ARMENIA launches Yerevan-Istanbul-Yerevan flightsFLYONE ARMENIA launches Yerevan-Istanbul-Yerevan flights
Armenian government to increase funding for subvention programs in  border communitiesArmenian government to increase funding for subvention programs in  border communities
Armavir leader in land purchase-and-sale deals Armavir leader in land purchase-and-sale deals 
2-fold YoY increase in real estate business in Yerevan 2-fold YoY increase in real estate business in Yerevan 
Results of the review of regulatory framework for advancing “green finance” in Armenia presented to stakeholdersResults of the review of regulatory framework for advancing “green finance” in Armenia presented to stakeholders
Armenian banks` client base up by 3.8% by Nov. 2021 Armenian banks` client base up by 3.8% by Nov. 2021 
9.7% year-on-year rise in housing prices in Armenia`s regions by Dec.  2021 9.7% year-on-year rise in housing prices in Armenia`s regions by Dec.  2021 
WB GDP growth forecast unchanged for Armenia WB GDP growth forecast unchanged for Armenia 
Armenian government minimizes contacts between tax authority and  taxpayerArmenian government minimizes contacts between tax authority and  taxpayer
33 587 children were born in Armenia in 11 months33 587 children were born in Armenia in 11 months
Wheat importers used bankruptcy as a tax evasion: SRCWheat importers used bankruptcy as a tax evasion: SRC
Issue of introducing universal income declaration system for  individuals was discussed at meeting chaired by Nikol Pashinyan Issue of introducing universal income declaration system for  individuals was discussed at meeting chaired by Nikol Pashinyan 
Service sector of Armenia reached 7.3% growth by December 2021Service sector of Armenia reached 7.3% growth by December 2021
Trade sector in January-November increased turnover by 7.9% per annumTrade sector in January-November increased turnover by 7.9% per annum
Telecommunications revenue of Armenia increased by 4.5% in 11 monthsTelecommunications revenue of Armenia increased by 4.5% in 11 months
Air passenger traffic increased 2.7fold over 11 monthsAir passenger traffic increased 2.7fold over 11 months
Armenian textile industry continues to demonstrate progressive growth  ratesArmenian textile industry continues to demonstrate progressive growth  rates
Alcohol industry in Armenia has increased production volumesAlcohol industry in Armenia has increased production volumes
Armenia`s metallurgical industry accelerates y-o-y growth rate to  double digitsArmenia`s metallurgical industry accelerates y-o-y growth rate to  double digits
Electricity generation in Armenia decreased by 2% in 11 monthsElectricity generation in Armenia decreased by 2% in 11 months
NA Committee approved nomination of Hovhannes Khachatryan for post of  Deputy Chairman of Central Bank of Armenia NA Committee approved nomination of Hovhannes Khachatryan for post of  Deputy Chairman of Central Bank of Armenia 
Russia leads both in export and import in Armenia`s foreign trade  turnoverRussia leads both in export and import in Armenia`s foreign trade  turnover
Manufacturing industry in Armenia has grown in 11 monthsManufacturing industry in Armenia has grown in 11 months
Economic activity up by 5.2% in Armenia in Jan-Nov 2021Economic activity up by 5.2% in Armenia in Jan-Nov 2021
Turkish Pegasus Airline to carry out Yrevan-Istanbul-Yerevan flightsTurkish Pegasus Airline to carry out Yrevan-Istanbul-Yerevan flights
Construction of alternative roads to be fully completed in Syunik in  2022Construction of alternative roads to be fully completed in Syunik in  2022
Inflation in Armenia in 2021 rises to 7.7% from 3.7% in 2020Inflation in Armenia in 2021 rises to 7.7% from 3.7% in 2020
Read more


Exchange rates
18.01.2022
RUB6.28-0.02
USD481.520.03
EUR548.74-1.27
GBP656.02-2.61
CAD384.48-0.34
JPY42.00-0.06
CNY75.800.09
CHF526.42-0.78