Armenia`s high-tech industry ensures double-digit growth in 2020

ArmInfo. Despite certain obstacles caused by the coronavirus pandemic and the outbreak of hostilities in Artsakh, the Ministry of High-Tech Industry of Armenia  in 2020 implemented a number of programs planned under the strategy,  ensuring double-digit growth rates.  Minister of High-Tech Industry  of Armenia Hakob Arshakyan stated this during a press conference on  February 9.

In particular, he said that the turnover of companies operating in  the field of high technologies increased in 2020 by 20.6%, amounting  to 198 billion drams. The number of employees in this industry  increased by 22%, reaching 18,747 people, and the number of active  companies reached 1228.  According to the minister, 192 new companies  received certificates in 2020, thanks to which the latter, according  to the law, will receive new benefits. At the same time, as the head  of the high-tech department said, the volume of taxes paid in this  industry increased by 14%, exceeding 41 billion drams. In addition,  according to Arshakyan, Armenian startups, which have research  centers here and create appropriate products, have managed to attract  $ 50 million in investments from foreign markets. "That is, high-tech  companies and products were created in Armenia, which managed to show  results that aroused interest among venture capitalists and other  investors, and through their high-tech products they were able to  attract investments. We hope that these amounts will increase in the  near future, "the minister stressed.  It should be noted that  according to the RA Statistical Committee, the revenue of the entire  information and telecommunication technologies (ICT) field  in 2020  reached 318.1 billion drams (about $ 650.6 million), exceeding the  indicator of a year ago by 2.8%. This general decline in growth  dynamics is mainly due to a drop in revenues for the country's  telecom operators.