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World Markets Research Centre
Global Insight
April 16, 2010
Armenian Companies to Open Branches in U.S. Silicon Valley Hi-Tech Hub
BYLINE: Lilit Gevorgyan
Today, Armenian prime minister Tigran Sargsyan stated that the
government is ready to help Armenian IT companies open branches in the
Silicon Valley, the U.S. hi-tech research and development hub.
Sargsyan stated that already this year the government hopes to
finalise arrangements between Armenian hi-tech enterprises and the
government on the details of opening permanent representation in
Silicon Valley. The next step will be starting their own production in
the world-renowned hi-tech centre and also establish links with
similar Armenian enterprises around the world. The prime minister
added that the goal is to use Armenia's traditional skilled workforce.
Government representatives have already been to San Jose, in the
United States, to explore the practicalities of the projects and
remain optimistic about its future.
Significance:Developing the hi-tech sectors of the Armenian economy
remains paramount for the South Caucasian republic, which does not
have any hydrocarbon resources. This sector has been gradually
developing due to two factors. Firstly, it is aided by the
availability of cheap and highly qualified workforce, and secondly,
due to the fact that the country has been in a blockade imposed by two
of its four neighbours, Turkey and Azerbaijan. The hi-tech industry
provides an opportunity to continue developing Armenia's strong
traditions of science-related disciplines as well as avoiding the
physical constraints of shipping. Opening branches of companies in
Silicon Valley will boost the hi-tech sector, however it may also
intensify the exodus of highly skilled IT professionals from the
country, a trend that has been increasingly growing since the country
became independent from the Soviet Union in 1991.
Global Insight
April 16, 2010
Armenian Companies to Open Branches in U.S. Silicon Valley Hi-Tech Hub
BYLINE: Lilit Gevorgyan
Today, Armenian prime minister Tigran Sargsyan stated that the
government is ready to help Armenian IT companies open branches in the
Silicon Valley, the U.S. hi-tech research and development hub.
Sargsyan stated that already this year the government hopes to
finalise arrangements between Armenian hi-tech enterprises and the
government on the details of opening permanent representation in
Silicon Valley. The next step will be starting their own production in
the world-renowned hi-tech centre and also establish links with
similar Armenian enterprises around the world. The prime minister
added that the goal is to use Armenia's traditional skilled workforce.
Government representatives have already been to San Jose, in the
United States, to explore the practicalities of the projects and
remain optimistic about its future.
Significance:Developing the hi-tech sectors of the Armenian economy
remains paramount for the South Caucasian republic, which does not
have any hydrocarbon resources. This sector has been gradually
developing due to two factors. Firstly, it is aided by the
availability of cheap and highly qualified workforce, and secondly,
due to the fact that the country has been in a blockade imposed by two
of its four neighbours, Turkey and Azerbaijan. The hi-tech industry
provides an opportunity to continue developing Armenia's strong
traditions of science-related disciplines as well as avoiding the
physical constraints of shipping. Opening branches of companies in
Silicon Valley will boost the hi-tech sector, however it may also
intensify the exodus of highly skilled IT professionals from the
country, a trend that has been increasingly growing since the country
became independent from the Soviet Union in 1991.