YEREVAN. – At the initial phase, the microchip plant—which will be built in Armenia by Corporacion America Company that belongs to Argentinean Armenian businessman Eduardo Eurnekian—will manufacture mobile chips, Enterprise Incubator Foundation Executive Director Bagrat Yengibaryan told Armenian News-NEWS.am.    

“They just recently opened a similar plant in Argentina; they have a huge market in Latin America. Subsequently, they will manufacture more complex microchips,” he added.  

The aforesaid plant will employ about 150 people and it will have a research department, as well. The plant could even be set up at the free economic zone in Armenia.

“Many people wonder how Armenia will [be able to] compete with Taiwan or China in the microchip [manufacturing] sector. But having the Latin American market, this is quite realistic,” Bagrat Yengibaryan stated.   

To note, there is no microchip manufacturing plant in Armenia’s immediate vicinity.