U.S remains dedicated to building economic resilience of Armenia -  ambassador

ArmInfo.The U.S. Embassy in Armenia posted the followjng message on its Facebook account: 

USAID empowers Armenia's tech sector and drives economic development!

We're proud to announce USAID's sponsorship of DigiTec Expo 2024  through our Economic Foundations Activity. 

"We remain dedicated to building economic resilience, and a thriving  high-tech industry is key to that goal.  Our aim is to transform  Armenia into an advanced high-tech hub that drives development not  only within the country but also across the region and globally,"  said Ambassador Kvien.

Events like DigiTec Expo 2024 play a crucial role in fostering  innovation and sustainability within the high-tech community. 

Let's keep pushing the boundaries of innovation together!

DigiTec EXPO 2024 was held in Armenia from October 4 to 6. This year,  according to the organizers, the exhibition was distinguished by its  content. In addition to a separate platform for startups, the  following areas were presented: TecSquare - for establishing new  working relationships and cooperation; DigiTalks - where information  on the latest technological trends was presented; DigiInvest - for  participation in discussions on fintech; TecBalcony - for business  VIP meetings.

Over 200 companies and startups took part in the event. The organizer  of DigiTec since 2005 is the Union of Advanced Technology Enterprises  (UATE).

According to the Statistical Committee of the Republic of Armenia,  the revenue of the information and communication technology (ICT)  sector in Armenia in the first half of the year grew by 10.4%,  amounting to 440.8 billion drams. At the same time, the services  provided in the IT sector alone decreased by 14.1% over the year to  186.8 billion drams. The production segment in ICT also showed a  decline - by 49.2% to 357.6 million drams. While trade in this area  increased by 1.6 times, reaching 174.4 billion drams.