On June 22, 2016, International Conference on “IT Outsourcing and Investments” was held in Yerevan, being attended, inter alia, by Albert Asatryan, Director-shareholder of ASATRYANS Company, on behalf of the Company.
The purpose of the Conference was bringing together the Armenian and international IT companies, the resident representatives of international companies and subsidiaries thereof to discuss issues and challenges on how to increase the role of the RA in the global IT sector, so that it becomes more attractive for investors. Meanwhile, it was discussed how it could be possible to make the IT sector more attractive for the global giants through leverages and what leverages should be applied for that purpose, who will agree to open representations and organizations in the RA.
During the Conference, speeches were made by several specialists on behalf of Karen Vardanyan (Executive Director of UITE), Hovik Musayelyan (Director of Synopsys Armenia CJSC), Michael Vardanyan (Technical Director, PicsArt Company), etc.
Currently, about 450 IT companies are operational in the RA, of which 80% have up to 10 employees.
Today the tax legislation in Armenia has created a favorable legislative environment for the IT companies defining a number of privileges.
The IT sector in Armenia has a great potential for development. Extensive work is being done by the State and several benefactors with the view to making the sector similar to those in Silicon Valley, USA, and Silicon Wadi, Israel.