Armenia achieved nearly 40% growth in the IT sphere in 2016

Armenia achieved a record growth of 38.8% in the IT sphere last year. According to the data provided by the Armenian National Statistical Service, the average annual growth rate in the IT sphere exceeded that of country’s overall economic growth by almost 7 times.

According to Karen Vardanyan, the Head of the Union of Information Technology Enterprises, such progress could be attributed to the high quality performance of Armenian companies, which are gaining great renown year by year, introducing their products on the international market.

Several original Armenian-made products have recently made it to the global market. One of them is a gadget called Volterman, a ‘smart’ wallet which is nearly impossible, or at least, hard to lose. The smart wallet has a number of security features contained in the hardware embedded inside it. Another product worth taking not of is software called SoloLearn, which won Facebook’s annual competition. JAMnews recently reported about the products’ success.

https://jam-news.net/?p=48720

Vahan Shakaryan, the Head of Technology & Science Dynamics – the company producing the Armphone and Armtab, believes that Armenian companies’ success is also conditioned by a growth in exports. He, however, warns against the existing risks: “There could be a breakthrough in economy. However, afterwards, it’s important at least to ensure stability, if not the growth. And it’s a serious problem.”

Field experts believe that the government’s support is required in order to maintain a stable growth rate. They believe it’s necessary to hold a strategic dialogue with the government so as to determine the measures that need to be taken and the key factors that are important for further growth and development of this particular sphere.