Tigran Sargsyan: We signed some important agreements in Silicon Valley

Even in the years of crisis, growth of the Armenian IT sector made 20-25% yearly.

The Armenian Prime Minister said this in his interview published in "Moskovskie Novosti" newspaper today.

"We signed several important agreements in the Silicon Valley. The first one is establishment of a venture fund in Armenia. The project implies private and public partnership and participation of donors. The second is attraction of transnational corporation to Armenia. The government actively supports initiative in the IT sector and many transnational companies consider Armenia as a regional IT center. Synopsys, Microsoft, National Instruments, D-Link, Intel, IBM are companies either already opened their offices in Armenia or we hold negotiations on possible formats of cooperation with them. The next agreement we signed concerns construction of a new factory for producing chips with investments from Argentina. We also opened Armenia's representation in the Silicon Valley which will help boost integration and inflow of private investments to the sector and will become a good channel for our companies' entry to the American market. It's a promising area for Armenia especially taking into account our geography, geopolitical risks, limited opportunities of transport shippings. And if we take into account the fact that our mathematics school has always been considered a very strong one, it will create favorable conditions for development of the sector", said the PM.