YEREVAN. – In 2018, $250 million was allocated for software and equipment production in the high-tech industry, the growth was 33 percent compared to 2017, and the average growth was 28 percent in 2015-2018. Armenia’s Minister of High-Technological Industry Hakob Arshakyan stated this during his year-end press conference today.

According to him, in 2018, we had 15 thousand employees in this field. The minister emphasized that companies in this sector mostly generate their main funds abroad, with only salaries coming in. "This leads to the fact that we have such small turnover figures," Arshakyan said. "We need to apply mechanisms to make those companies, at least Armenian companies, circulate all their money in Armenia."

He emphasized that this year about 230 companies applied for the privilege of state support. "According to the numbers they have presented, they have created about 1,200 new jobs," he added. “About 40 companies have been opened by Diaspora Armenians; this means we have an inflow of talent."