ARMTECH CONGRESS ’08 HIGHLIGHTS THE RISE OF ARMENIA’S HIGH TECH INDUSTRY

Science Letter
September 16, 2008

The Armenian Technology Congress announced that the annual high
tech industry conference, ArmTech Congress ’08, will be conducted on
October 4 and 5 in Yerevan under the auspices of the Prime Minister
of the Republic of Armenia (RA), Tigran Sargsyan, and supported by
the RA Ministry of Economy, leading high tech industry companies,
academia and international organizations. The conference will highlight
the rise of Armenia’s strategic high tech industry while promoting
international business linkages and investments for further growth
(see also Synopsys).

The Government of the Republic of Armenia (RA) stressed the importance
of the ArmTech Congress. According to Nerses Yeritsyan, the RA Minister
of Economy: "The ArmTech Congress serves as a means to provide the
platform to discuss, plan and execute policies and actions to keep
Armenia on the current path of excellent achievement, increasing
its global recognition as one of the fastest growing high tech
destinations in the world. Moreover the Government of the RA considers
the ArmTech Congress an unprecedented opportunity to obtain business
and professional information, and make key connections spanning the
global high tech industry. Directly involved will also be government
representatives from Armenia and the U.S., major players in the
financial and services sectors and leading academics."

"ArmTech is envisaged as a recurring annual global high tech industry
conference, alternating between Silicon Valley and Armenia. Its
historical and successful debut in 2007 in Silicon Valley, California
established a challenging benchmark for subsequent years," said Tony
Moroyan, the founder and co-chair of ArmTech Congress. "We are very
happy that the Armenian Government has adopted ArmTech Congress as
its Global High Tech Industry Conference by holding the second ArmTech
Congress in Yerevan in 2008."

The continuing growth of the technology sector in Armenia, together
with the expansion of the global Armenian technology community, has
created a need for a professional forum to improve communications and
cooperation among Armenian high-tech professionals and executives. The
ArmTech Congress is the response to this need. ArmTech delivers an
ideal mix of international business insights, advanced technology
content, and networking channels to leverage opportunities for
professionals and enterprises in the community. With its wide range
of technology and business sessions, ArmTech Congress offers the
opportunity to share information, identify new business opportunities,
make new contacts, and create valuable extended professional
networks. The program of ArmTech Congress ’08 has been designed to
directly address these objectives.

ArmTech Congress ’08 will be attended by high tech industry
successful leaders from the U.S.A., Russia and Europe. Armenia will be
represented by government officials, international organizations and
representatives from academia, as well as experienced professionals
from leading Armenian high tech companies.

"Armenia holds great potential, but we continue to be impacted by major
and unnecessary challenges that greatly reduce the attractiveness
of Armenia for Foreign Direct Investment. A progressive, forward
thinking government can go a long way toward making Armenia an
investment destination. ArmTech Congress offers a venue for a
gathering of business, government and academic thought leaders to
openly discuss the issues and challenges, and agree to actions that
will strengthen Armenia’s business and IT environment, making Armenia
truly competitive in the IT sphere," said Rich Goldman, vice president
of Corporate Marketing & Strategic Market Development at Synopsys,
and CEO of Synopsys Armenia. "Challenges exist in all three areas;
government, academia, and business, and we must work together to
resolve them and develop ideas that will lead to the accelerated
economic development of Armenia. ArmTech gives us this opportunity."

About Armenian Technology Congress

Headquartered in Silicon Valley, the Armenian Technology Congress was
founded by technology and business professionals to foster professional
growth in the worldwide Armenian technology community, and to
promote the growth of Armenia’s rapidly rising technology sector. The
organization welcomes liaisons with other entities that are similarly
aligned and has no political affiliations. Building on the success of
ArmTech ’07, the development of repeatable international technology
and business conferences is the current focus of the organization. For
more information, please visit