Of The Republic Of Armenia
Ruben Simonyan Hosts WB Representatives; New Prospects for Cooperation Discussed
On November 18, Deputy Minister of High-Tech Industry of the Republic of Armenia, Ruben Simonyan, hosted representatives of the World Bank (WB), led by Cecile Niang, Manager of the Finance, Competition, and Investments Department.
The Deputy Minister outlined the Ministry's ongoing programs aimed at fostering high-tech development and driving economic progress, with the overarching goal of establishing Armenia as a regional technology hub.
In this context, Ruben Simonyan emphasized the Ministry's legislative initiatives, particularly efforts to develop an IT sector strategy and the draft laws "On State Support for the High-Tech Sector" and "On Amendments and Addenda to the Tax Code of the Republic of Armenia." These legislative proposals introduce new regulations to advance the high-tech industry.
He elaborated on the key changes proposed in the draft laws, highlighting measures designed to promote the professional growth of young specialists, support startups, and create a favorable environment for businesses operating in Armenia. The Deputy Minister also underlined the significance of the amendments for fostering R&D and experimental design activities.
Discussions also touched upon the planned adoption of by-laws following the legislative changes, as well as initiatives related to digital services and programs aimed at promoting high-tech development in Armenia’s regions.
Additionally, Ruben Simonyan presented the activities of Plug and Play Germany GmbH, the winner of the Ministry's grant competition. This accelerator supports Armenian startups in scaling their operations, acquiring new skills, adopting innovative mindsets, and reaching international markets.
He stressed that all the Ministry’s initiatives are interconnected, mutually reinforcing, and aligned toward the shared goal of advancing Armenia’s economic development.
Cecile Niang expressed appreciation for the comprehensive presentation and noted that the proposed programs would soon be reviewed by the World Bank’s management team and experts. She emphasized that particular attention would be given to opportunities for collaboration in R&D, with potential cooperation prospects to be outlined in the near future.
