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YEREVAN. - The turnover of the IT sphere in Armenia amounted to $500 million in 2016, growing by 20 percent as compared to last year and impacting the GDP by 6 percent.

Director of the Enterprise Incubator Foundation (EIF), Bagrat Yengibaryan, told the aforementioned to reporters on Monday.

According to him, Armenia has 540 IT companies, which employ 16,000 workers. “This year was outstanding in terms of the opening of an unprecedented number of new enterprises,” Yengibaryan noted, adding that currently a shift is made from the IT sphere to the engineering one, the most vivid example of this being the Armenian national engineering laboratories and the project of establishing an engineering town in Jrvezh.

Yengibaryan also noted that 50 percent of the IT specialists have been and continue being trained by the EIF, the number of the educational program beneficiaries exceeding 20,000.

The Foundation also supports the governments of a number of countries in developing the IT sphere through introducing its own model. The list of these countries includes Moldova, Montenegro, Bahrain, Jamaica, as well as a number of Latin American countries and Taiwan. One of the key achievements of the EIF is the establishment of technology centers in the provinces. 

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