YEREVAN, DECEMBER 18, ARMENPRESS. Armenia’s minister of high technological industry Hakob Arshakyan says there is an inflow of talent to Armenia as in 2019 nearly 45 companies in the technology field were opened in the country by the Diaspora-Armenians with the privileges granted for startups.

“This year nearly 230 startup companies in the technology field have applied for getting tax privileges. According to the data presented by them they have created a total of 1200 new jobs. We have a great number of individuals and companies from the Diaspora who submitted applications, nearly 15-20% of those who applied. Around 45 companies have been opened by the Diaspora-Armenians. This means that we have an inflow of talent”, the minister told reporters at his annual press conference.

The applications on getting tax privilege were received from France, USA, Russia, the Netherlands, Australia, Georgia, Switzerland, Iran, Germany, UK. The companies operate in various directions, such as software, electronics, artificial intelligence, etc.

International companies also opened new offices in Armenia.

Edited and translated by Aneta Harutyunyan