Armenia is positioning itself as not only an IT, but also as an R&D center, Bagrat Yengibaryan, Director of the Enterprise Incubator Foundation (EIF), told journalists on Monday.

“IT is Armenia’s brand now. I wish Armenia’s IT brand developed along with its cognac and apricot brands. We hope that Armenia’s representation in the Silicon Valley will give serious impetus to the industry’s development,” Yengibaryan said. More than 300 IT companies are operating in Armenia now, he added.

Also, a number of new companies have been established in the past three years. If the current rate is maintained, 10% annual growth may be recorded, he said.

He noted that the monthly salary in Armenia’s IT sector exceeds US $1,000 now.

As regards international companies cooperating with Armenia, he singled out the Microsoft Innovation Center Armenia, which is among the world’s top ten centers.

With respect to Mobile research Armenia is the second after Poland. Yengibaryan also recalled the establishment of Nokia laboratories, which is to get extra financing this year.

“The Armenian-Indian training center is training around 300 specialists in developing high-speed software,” Yengibaryan said. Armenia is also negotiating IT development with South Korea and China, and South Korean IT specialists are to arrive in Armenia late this week.

IT development centers have been opened in Armenia’s second largest city, Gyumri, and in Nagorno-Karabakh. Not only local, but also foreign investments have been made in the centers.

“The construction of the Gyumri industrial park is most inspiring, and 60 specialists are taking retraining courses, and four IT development laboratories are working, there. Similar centers will also be opened in Vanadzor and Charentsavan,” Yengibaryan said. Armenia is also managing Black Sea countries’ IT projects, he added.

Yengibaryan is proud of the fact that “made in Armenia” can now be read on Synopsys-made tools. Referring to well-known IT experts, he said that Armenia is now a European-Asian coordination center.

Speaking of brain drain, Yengibaryan said that about 7% of IT specialists leave Armenia.

“More specialists are now trained in Armenia than leave the country. They do not go to find jobs. Young people do not any more have such a strong desire to leave Armenia,” he said.