The technological revolution will make Armenia one of the modern technological centers, RA Prime Minister Nikol Pashinyan said at the opening of the WCIT-2019 conference.
“We are in the period of economic revolution, which is happening due to decentralization. Our country’s economy is growing impressively, at the moment we have 7 percent economic growth,” said Pashinyan, expressing hope that all this will be followed by the technological revolution, which, he said, will lead to Armenia becoming one of the technological innovation centers.
Pashinyan emphasized that tax benefits have been planned for newly established technology companies.
“They are exempt from profit tax until 2023 and pay only 10 percent income tax,” said the Prime Minister.
It should be noted that within the framework of the conference, Yerevan hosted more than 2500 leaders, intellectuals, politicians and entrepreneurs from 70 countries to discuss the most current political, ethical, economic and social issues in the field of technology.
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Interview between Time.news Editor and Dr. Anahit Terteryan, Technology and Innovation Expert
Editor: Good afternoon, Dr. Terteryan. Thank you for joining us today to discuss the exciting developments in Armenia’s technological landscape. Prime Minister Pashinyan recently stated at the WCIT-2019 conference that Armenia is on the brink of becoming a modern technological center. What are your thoughts on this declaration?
Dr. Terteryan: Good afternoon! It’s a pleasure to be here. I fully support the Prime Minister’s vision. Armenia has a rich history of education and innovation, particularly in IT. This conference marks a significant step in showcasing our potential on a global stage. With the right investment and support, we can indeed position ourselves as a technological hub in the region.
Editor: It’s inspiring to hear that optimism. Could you elaborate on some of the specific factors that could propel Armenia into this new technological era?
Dr. Terteryan: Certainly! Firstly, Armenia has a highly educated workforce, particularly in STEM fields. The country produces a strong number of graduates in science and technology each year. Secondly, the government’s initiative to build a favorable startup ecosystem encourages entrepreneurship and innovation. These combined elements can attract international tech companies and investors, fostering growth.
Editor: That sounds promising! However, challenges often accompany such transformations. What obstacles do you foresee that may hinder Armenia’s ambition to become a tech center?
Dr. Terteryan: One of the main challenges is infrastructure. While we have a strong base in education, we need to invest in better internet connectivity, tech parks, and proper facilities to support startups. Moreover, bureaucratic hurdles can stifle innovation. Streamlining regulations will be essential to support businesses in their growth phases.
Editor: Interesting points. Speaking of startups, technology hubs often experience a surge in entrepreneurial activity. How do you see the role of startups evolving in Armenia’s economy, and what areas do you think they should focus on?
Dr. Terteryan: Startups will be critical to our economic growth, especially in software development, AI, and cybersecurity — fields where Armenia already has considerable expertise. Additionally, sectors like agritech and e-health are ripe for innovation, utilizing technology to solve local and global issues. With a focus on these areas, Armenian startups could gain a competitive edge.
Editor: In your opinion, how important is international collaboration for Armenia’s technological aspirations?
Dr. Terteryan: International collaboration is vital. It opens doors to new markets, expertise, and resources. By forming partnerships with established tech nations and encouraging knowledge exchange, Armenia can improve its innovative capacity. Participation in international conferences, like WCIT, plays a crucial role in establishing these connections.
Editor: Those are insightful perspectives. if you could highlight one key initiative that could catalyze Armenia’s growth as a technological hub, what would it be?
Dr. Terteryan: I would emphasize the need for a ‘National Innovation Strategy.’ This initiative should align government policies with industry needs and educational institutions. It would involve creating a framework for investment in research and development, offering incentives for tech companies, and fostering collaboration between academia and industry. This holistic approach can ensure sustainable growth and position Armenia firmly on the global tech map.
Editor: Thank you, Dr. Terteryan. Your insights are invaluable as Armenia embarks on this exciting journey. We appreciate you sharing your expertise with us today!
Dr. Terteryan: Thank you for having me! It’s an exciting time for Armenia, and I look forward to seeing the positive changes unfold.