RA premier attends opening ceremony of Business Accelerator building  in Engineering City

ArmInfo.Prime Minister Nikol Pashinyan attended the opening ceremony of the Business Accelerator building in Engineering City.

The Prime Minister toured the building, got acquainted with the work  carried out, the created conditions. It was reported that 810.4  million drams were spent in 2024 for the construction of the building  and parking lots, improvement of the territory, as well as the  acquisition of equipment and furniture, and as of October 2, 2025,  about 1.2 billion drams had been spent. The funds were allocated from  the state budget of the Republic of Armenia.

Nikol Pashinyan also visited the Charles Aznavour National  Supercomputer Center of Armenia, where the existing capabilities and  the expected results of the center's activities were presented.

The Prime Minister also got acquainted with the works presented at  the "Armenia- Engineering Week" exhibition, as well as the activities  of PMI Science engineering laboratories.

Next, Prime Minister Nikol Pashinyan met with representatives of  high-tech companies.  During the meeting, the Prime Minister answered  questions of interest to those present.  They related to the further  development of the sector, the balanced and balancing foreign policy  of the Armenian Government, the ideology of Real Armenia, and other  topics.

Engineering City is a public-private partnership program implemented  by the Enterprise Incubator Foundation with the active and key  support of the Ministry of High-Tech Industry of Armenia, in  cooperation with the World Bank, the Engineering Association, and a  number of private sector companies. The main goal of the program is  to contribute to the development of high technologies in Armenia by  forming an innovation ecosystem, where engineering and high-tech  companies will have the opportunity to develop and implement  innovative ideas for local and international markets using modern  infrastructure.

A 3-hectare site on Bagrevand Street was selected for the creation of  the Engineering City. The planned investment volume was reportedly  $21.2 million, of which $10.5 million was co-financed by the  government under the World Bank's "Trade Promotion and Quality  Infrastructure" loan program, and the remainder was investment from  National Instruments AM and a consortium of 14 joint-stock companies.  The program was expected to become cost-effective in its fourth year  of operation. The project planned to train and retrain 1,500  specialists in engineering and high technology, create 2,000 new  jobs, and establish 20 new enterprises in the sector.