World Bank considering new opportunities for cooperation with Armenia  in high technology sector

ArmInfo.The World Bank (WB) is considering new opportunities for cooperation with Armenia in the high technology sector. This became known following a meeting  between Armenia's Deputy Minister of High-Tech Industry Ruben  Simonyan, and a WB delegation led by Cecile Niang, the Practice  Manager of the Finance, Competition and Investments Department). In  particular, she noted that new cooperation opportunities will be  presented in the shortest possible time, with a focus on the research  and development (R&D) sector.  The Deputy Minister, in turn,  presented the guests with programs aimed at developing the technology  sector and fostering economic growth. He also spoke about the goal of  transforming Armenia into a regional technology hub.

Simonyan shared information about the work being done to develop a  strategy for the high-tech sector and implement legislative changes.  Additionally, he spoke about the activities of the German accelerator  Plug and Play Germany GmbH, which supports the growth of Armenian  startups and helps them enter the international market.  Ruben  Simonyan emphasized that the Ministry's programs are interconnected,  complement each other, and share the common goal of advancing the  Armenian economy.

Cecil Nyangi noted that all the presented projects will be reviewed  in the near future with a group of managers and experts from the  World Bank.  It should be noted that according to the Statistical  Committee, the information and telecommunication technology (ICT)  sector in Armenia experienced a 0.3% decline over 9 months,  generating revenue of 646.5 bln drams ($1.6 billion).