ADB holds round table discussion on Armenia`s ICT Sector Assessment

ArmInfo. A round table discussion was held by ADB Armenia, prior to publication of the Armenia ICT Sector Assessment Report commissioned by ADB. This was reported by the press service of the ADB Armenia on its official Facebook page.

According to the source, the research report is a joint output by ARRM, CST - CWRD, SDCC, and PSOD which highlights the strategic opportunities for intervention both from sovereign and non- sovereign angles. The roundtable opening speeches were delivered by Paolo Spantigati, ARRM CD, Peter Marro, Advisor to DG and Head of CST and Davit Sahakyan, Deputy Minister of High- tech Industry. The roundtable was attended by Deputy Ministers, ICT associations, Enterprise Armenia, private sector representatives from ICT sector, ARRM key staff involved in the assessment and a consultant who undertook the study. Narine Avetisyan, Senior Investment Officer in ARRM delivered closing remarks and highlighted the further potential for future ADB interventions.

ADB has been cooperating with Armenia since 2005.As of 2022, the Bank provided Armenia with 37 loans, grants, as well as technical assistance in the amount of about $1.6 billion, which were directed to the development of transport, financial, energy, water, infrastructure, etc.

According to the RA Statistical Committee, the information and telecommunication technologies (ICT) sector of Armenia accelerated its growth rates from 7.4% to 65% in 2022, providing revenue of 570.4 billion drams ($1.3 billion).  The dominant segment in Armenia's ICT is the service sector: 77.7% or 443.4 billion drams (annual growth:  44.6%), of which the largest part is represented by information technologies: 167.7 billion drams.  The dominant segment in Armenia's ICT is the service sector: with 77.7% or 443.4 billion drams (y-o-y growth of 44.6%), of which the largest part is represented by information technology: 167.7 billion drams (y-o-y growth of 75. 7%), and the telecommunications segment: 132.1 billion drams, which is 6.3% higher than in 2021. The manufacturing segment traditionally accounted for the smallest part: 0.5% or 2.4 billion drams, with a y-o-y decline of 0.9%.  Revenue in the field of ICT in the trade sector for 2022  increased 3.4-fold - up to 124.6 billion drams.