YEREVAN. – Armenia’s information and high-tech representational office formally opened at Plug and Play Tech Center of the Silicon Valley in the US State of California. An Armenian Government delegation led by PM Tigran Sargsyan likewise was on hand at the event.
Subsequently, a memorandum of understanding was signed at the center, and with respect to the creation of Armenia’s first venture fund. The latter will provide Armenia’s newly established Information Technology (IT) companies access to financial investments, Government pres service informs.
“Today we were able to record those serious achievements which Armenia has [accomplished] in the IT sector. We recorded four important events here. Specifically, Armenia’s representation opened. Having such representation at Silicon Valley means having a tool that enables the private sector the opportunity to develop. This is even more important for Armenia because it is impossible to follow the present-day developments [in the IT sector] without a daily contact with Silicon Valley. This representation starts its activities on a good foundation. That foundation is the Armenian enterprises, the Armenian potential that operate at Silicon Valley. A network has been established which comprises 200 small and medium companies,” Armenia’s PM specifically told news reporters.
Also, Tigran Sargsyan underscored the creation of the Venture Fund, which likewise will contribute to the development of Armenia’s IT sector.
“The memorandum on the building of a new chip-manufacturing plant in Armenia was signed as well. This, too, is a key step in the development of the [country’s] IT sector,” the Premier noted.
The head of Armenia’s government also stressed the signing of a memorandum with world-renowned Intel company, as a result of which Intel will be represented in Armenia. In the PM’s words, all these arrangements and signed documents will give new impetus to development of the IT sector in Armenia.
“It is extremely important that we have our place at Silicon Valley and that Silicon Valley likewise knows that Armenia has its own place on the map in the IT sector,” Tigran Sargsyan said.
