Armenia Welcomes Over 50,000 IT Specialists from Russia, Says Kerobyan

In an interview with RTVI, Armenia's Minister of Economy Vahan Kerobyan highlighted the number of IT specialists and companies relocating from Russia. Some newly registered Russian companies have even become among the largest taxpayers in Armenia, the media reports.

“Due to many factors like a good IT sector, business environment, safety, excellent food, and hospitality, a substantial number of Russian IT specialists have chosen Armenia as their new residence,” Kerobyan stated.

The Minister estimated that the number of IT specialists arriving in Armenia is approximately “more than 50,000 but less than 70,000.” According to Kerobyan, around 850 companies and 350 individual entrepreneurs with Russian roots have been registered in Armenia. In total, around 100,000 accounts have been opened for 40,000 legal entities and individuals in Armenian banks.

The top 20 companies in the IT sector, which are among the largest taxpayers in Armenia, include several newly opened companies associated with Russia, the Minister noted. Specifically, TeamWork, a subsidiary of Perm-based Miro in Armenia, has created a platform for team collaboration, while DevSoft AM develops software tools and interface components for international vendor DevExpress. The American graphics card manufacturer NVIDIA, which halted sales in Russia, has opened an office and is building a research center in Armenia.

“Yandex” opened an office in Yerevan in July and is expanding its workforce in Armenia. “In total, they have about 1,000 employees (but I might be mistaken),” said the Minister.

“Russian companies are hiring specialists in Armenia, which adds ‘salt to the wounds’ of local IT companies already suffering from fluctuations in the national currency, the dram,” the Minister pointed out. At the same time, the acute shortage of highly qualified and experienced programmers (senior engineers) in Armenia has been replaced by a lack of newcomers (junior level). “But this issue can be easily addressed through numerous retraining programs. We see that many people are leaving their jobs in banking or other IT positions, and these vacancies are being filled quickly,” the Minister added.

Armenia is not trying to create a “tax paradise” for immigrants, the Minister emphasized. “If everything is unstable, it can cause more harm than good.”

“We are working to ensure that the environment and living conditions in Armenia are competitive compared to other technology centers in the world. The influx of Russians brings significant benefits to the economy and makes a considerable contribution to societal development,” the official stated.

“We are seeing the emergence of new clubs, new bars, new communities, and eco-activists who are collecting litter. We are even seeing volunteers assisting rescuers during difficult situations,” the Minister provided examples, “These are active individuals who are integrating into our society. And we see that society is very openly accepting these people.”