IT sector`s revenue AMD 536bln by end of October 2023

ArmInfo. At the end of 10  months of 2023, the revenue of the information technology sector in  Armenia reached AMD 536bln, while for the entire 2022 the volume  amounted to AMD 555bln, Deputy Minister of High-Tech Industry David  Sahakyan stated at the 12th Security Forum of the Armenian Institute  of International Relations and Security, where participants discussed  the problems of development of the high-tech industry.

At the same time, he attached importance to the development strategy  of the sector and the adoption of the bill "On state support for  high-tech companies," which, according to him, will be ready in the  first half of 2024. The Deputy Minister explained that this draft law  is aimed at revealing the capabilities of the country and high-tech  companies, taking stock of them and providing appropriate targeted  support.

During the forum, he presented the current situation in the industry,  the pace of development and the programs implemented by the ministry.  Chairman of the Military Industry Committee Artem Mehrabyan also took  part in the event. He spoke about the functions of the structure, the  programs being implemented, research and development work. Mehrabyan  said that this year the Committee took part in two international  exhibitions on defense and security - IDEX 2023 in the United Arab  Emirates and EDEX 2023 in Egypt.