When Apple co-founder Steve Wozniak went whooshing through the streets of downtown Yerevan on a Segway last month, he got nary a wide-eyed stare. And with Armenia now boasting an official 25-percent growth rate in its Information Technologies (IT) sector, that’s how it should be, proud bureaucrats might say. But for all the optimism, industry executives caution that many a speed bump lies on Armenia’s journey to IT fame and fortune.
In 2010, Armenia’s IT sector, focused primarily on software exports, shipped out $120-million-worth of information-technology software and services, largely to the United States, Canada, and the European Union, with a sliver to Russia and other former Soviet republics. The sector, which contains some 300 companies, added $200 million to the country’s $9.39-billion economy that year, according to government data.
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