YEREVAN. – A grant of 1 billion drams (about US$200 million) was provided to 64 high-tech companies in Armenia; Hakob Arshakyan, Minister High-Tech Industry, told this to a press conference on Tuesday.

As for the program of assistance to high-tech companies—and which was adopted by the government during the COVID-19 pandemic, according to Arshakyan, it was suspended during the recent Artsakh (Nagorno-Karabakh) war, but it is planned to be re-launched at the upcoming Cabinet session of the government. "It is expected that more than 60 companies will receive assistance," he stressed.

According to the minister, in addition, it is planned to restart the Armenian Virtual Bridge program, which is aimed at establishing connections between Armenia and other technology centers in the world.

Hakob Arshakyan added that six companies have submitted applications to participate in the engineering city program in the capital Yerevan, and that these applications were now being considered.