OVERVIEW

Armenia has a long tradition of educational depth and research excellence that has been a hallmark of Armenian technology for literally hundreds of years. It creates opportunity to establish new technological sectors in economy as well as to develop our traditional fields such as chemical, textile, mining and other fields.

New sectors, such as precious stone processing and jewelry making, information and communication technology, and even tourism are beginning to supplement more traditional sectors such as agriculture in the economy. Besides, Armenia has a fast growing food processing sector with great export potential, based on domestic ecologically clean agro- products and excellence climatic conditions

Armenia is one of the leading information technology nations among the neighboring CIS and Middle East countries. Hi- tech industry in Armenia mostly focuses on optoelectronics, precision engineering, renewable energy, machinery and other sectors. Almost all the electronic and precision engineering companies have retained their own in- house R&D labs. We also appreciate creation of an electric energy system that is export oriented and generates high added value.

Armenia offers great opportunities to investors in light industry (carpet, footwear, textiles and clothing) due to cost effective labor, long- established traditions and free access to the CIS market. The absence of tariffs and other related regulations is another strong argument in favor of investing in this sector. The knitting sector is one of the most successful and export- oriented in Armenia.

Armenia has a developed mining and metallurgical sector exported more than 80% of its production. Armenia has extensive and varied mineral resources such as: gold, silver, lead, zinc, copper, molybdenum and iron-ore, industrial minerals such as salt, gypsum, zeolite, diatomaceous earth, limestone, granite and basalt. Some copper-molybdenum and polymetallic ore deposits are also rich in rare earths and elements such as bismuth, tellurium, selenium, gallium, indium, thallium, rhenium and germanium.

There are multiple opportunities to source both fine and specialty chemical products and decades- long research development efforts in Armenia.

Jewelry and diamond processing are considered a very attractive field for investment in Armenian based on the existence of skillful diamond cutters with competitive wage rates, modern equipment and tax privileges.

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