Armenia’s IT representation opens in Silicon Valley

Armenia’s representation has opened in Plug and Play technological center of the US Silicon Valley. Armenia’s Prime Minister Tigran Sargsyan, and members of his delegation, participated in the ceremonial opening of the office, government’s press office reports.

The event was followed with the signing ceremony of the memorandum of cooperation on creation of first venture foundation in Armenia. It will ensure availability to financial investments to the newly created IT companies.

Speaking to the reporters, the head of the Armenian government said Armenia has registered serious achievements in the IT sphere. He said the number of events in the USA will give obvious results. Referring to the opening of the Armenian representation, the PM said a number of countries have their centers in the Silicon valley as having it there means having a tool that gives a private sector an opportunity to develop. “It is much more important for Armenia, as without an everyday touch with Silicon Valley it is impossible to follow the contemporary developments while we should be aware of the news in this rapidly changing world,” he stressed, adding that the Armenian representation starts its work on a good basis, comprising of Armenian enterprises acting in the Silicon Valley with the Armenian potential.

“Memorandum of construction of new plant of production of chips in Armenia has been signed. It is another important step in the development of the IT sphere. We will have not only software companies but chip production as well,” the PM said.

The head of the government also stressed the signing of memorandum with Intel company which will open its representation in Armenia.

Referring to the possibility of creation new jobs in Armenia’s IT sector, the PM said the jobs in this sector are highly paid and have big productivity.