YEREVAN. – Russian IT companies can enter European market through Armenia, Deputy Prime Minister Vache Gabrielyan said during the opening of the field summit of Russian IT companies in Yerevan.

Armenia can offer Russian companies the staff and attractive conditions. Four hundred Armenian IT companies employ around 11,000 people. In addition, Armenia has good conditions for the work of startups: such companies are exempt from profit tax for three years, while income tax is set at ten percent as compared to 24.4- 36 percent for other companies. 

“I think this will make Armenian market attractive for the Russian companies,” he resumed.

Yerevan is hosting an IT summit on April 2-3 that is organized by Russia Information and Computer Technologies Industry Association (APKIT) with the support of Armenia-based Union of Information Technology Enterprises (UITE).