PRODUCTION OF INFORMATION TECHNOLOGIES SECTOR GROWS BY 30%

Noyan Tapan
Dec 26 2006

YEREVAN, DECEMBER 26, NOYAN TAPAN. About 165 enterprises are now
operating actively in Armenia’s IT sector, with the number of their
employees making 5 thousand, the RA Minister of Trade and Economic
Development Karen Chshmaritian stated during the December 26 press
conference. According to him, in 2006 production of the IT sector
will make 80 mln USD or by 30% more than last year.

About 85% of IT production is exported. The sector will account
for about 2% of Armenia’s GDP. The amount of foreign investments is
estimated to make at least 10 mln USD.