Armenia will increase funding for the military-industrial complex by 114%. This is what Minister of High Technological Industry of Armenia Hakob Arshakyan declared at Sevan Startup Summit 2019 today.
According to him, Armenia envisages upgrading military equipment, developing new models and enhancing the industrial potential.
The minister added that Armenia has set goals to enhance technologies in the defense sector, prevent the inflow and outflow of specialists and increase citizens’ welfare.
Arshakyan noted that over the past 25 years, technologies have developed 1,000 times faster than throughout the entire 20th century and that Armenia’s SoloLearn, PicsArt, Teamable and other startups are making achievements and are among the leaders in the spheres of their activities.
“Armenia will prepare more than 3,000 IT specialists, implement 50 grant programs at universities, 20 grant programs and use the potential of Diaspora Armenians. Armenia is also planning on creating an information platform that will serve as a bridge leading to the global market and will promote the organizing of international exhibitions,” he concluded.
