GRANT THORNTON AMIOT: ARMENIA’S IT SECTOR ATTRACTS INVESTORS FOR ITS FAST DEVELOPMENT

ARKA
May 11, 2009

YEREVAN, May 11. /ARKA/. Armenia’s IT sector attracts investors for its
fast development, Gurgen Hakobyan, shareholder of Grant Thornton Amiot
audit and consulting company, said on Sunday at a regular meeting of
IT area’s prominent figures in Aghveran, Armenia.

He said investors’ interest in mining and metallurgy areas is dwindling
now because of the fall in world prices for metals.

"Instead, interest in IT companies is increasingly growing",
Hakobyan said.

He said that thanks to it, Armenian companies get opportunities to
enter securities market.

"Entrance in IPO market will enable companies to attract funds and
become leaders thanks to implementing reforms, protecting property
rights and spurring foreign investors’ interest in Armenia", Hakobyan
said adding that it is possible to use intellectual property as
additional capital.

He thinks that to enter IPO market the country should improve economic
situation and conduct audit at least three consecutive years to
convince potential investors of transparency of companies.