Armenia becomes US strategic partner in semiconductor industry: Minister on Washington memorandum

YEREVAN, August 14. /ARKA/. Armenia is becoming a strategic partner of the United States in the semiconductor industry, Armenian Minister of High-Tech Industry Mkhitar Hayrapetyan said while commenting on the memorandum of understanding signed last week in Washington between the governments of Armenia and the United States.

During the August 8 meeting at the White House, Armenian Prime Minister Nikol Pashinyan and U.S. President Donald Trump signed a memorandum on an innovative partnership in artificial intelligence and semiconductors, among other documents.

"Armenia will have the opportunity to take an important place in the service supply chain. Simplified and accelerated export mechanisms will be introduced for products from Armenia," Hayrapetyan said in an interview with Armenian Public Television.

He said that exceptional opportunities will also be created in the field of AI. The US will encourage new large technology companies and investments to come to Armenia.

Hayrapetyan said, "The summary document does not mention the construction of new transistor factories or the promotion of chip and semiconductor production. However, it outlines the main areas for cooperation between Armenia and the US in the coming years."

He noted that Armenia is a regional leader in terms of both the number of transnational companies represented and the innovativeness of its products and services.-0-