ONE LOSES, THE OTHER WINS

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[03:56 pm] 23 February, 2009

Representatives of Armenian IT companies say the world economic crisis
has greatly affected the sphere of Information Technologies. They
say the crisis will still continue deepening.

President of the Union of IT Enterprises (UITE) Hovhannes Avoyan
says the global financial-economic crisis largely affects great
companies. The closure of Lycos Company is a brilliant example. The
Company wasn’t sure to surmount the crisis.

During a recent meeting of IT leaders the invitees confessed that
the crisis makes them review their strategy. To overcome the crisis
they propose a close cooperation with the state. Two enterprises have
already been involved in state programmes. By the turn of the year,
the UITE is expected to have about 40 member companies.

Unlike the USA and Europe where the sphere suffers a decline, it is
more or less stable in Armenia, observe IT specialists.

On the other hand, the crisis opens new opportunities, says
Mr. Avoyan. "It is more preferable to open a new company or improve
the older one as the sphere avails companies with new competitive
conditions and facilitates their further work. Besides, it enables
to recruit qualified specialists," says the UITE President.

Investments to the Internet sphere are more profitable in Armenia as
social networks, Internet attractions and games enlarge day by day. "As
a result of the crisis, more and more people are made redundant and
they seek consolation in the Internet. Generally Internet services
are getting modern," adds Mr. Avoyan.

Director General of the Synopsis Armenia Company Hovik Musaelyan says
the global financial-economic crisis has not affected their company.

"Over the past four years our company has made an investment of
700 million dollars. In the given conditions one is a winner, the
other – a loser. Nevertheless, the achievements in the IT sphere
are obvious. Our Company has no shortage of orders, and none of
the employees has been fired. Under the conditions of such a crisis
the field of Information Technologies could even develop. However,
companies should be able to invest in new tools and technologies,
otherwise the company will have no future," Hovik Musaelyan said.