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30 mln USD invested for construction of Engineering City in Yerevan

Dr. James Truchard

30 mln USD invested for construction of Engineering City in Yerevan

By In News On December 5, 2018

YEREVAN, DECEMBER 1, ARMENPRESS. The construction of an Engineering City, aimed at developing the field of high technologies in Armenia, will be completed in 1-1.5 years, Bagrat Yengibaryan – director of the Enterprise Incubator Foundation, told reporters before the groundbreaking ceremony of the City in Yerevan on December 1, reports Armenpress.

The EIF director said there are already an engineering center, library, museums of universe, science and technologies in the other side of the area, high school will be constructed soon.

“The Engineering City is already a reality. It’s just the expansion of the city where 32 organizations will be deployed with their separate buildings, as well as a major engineering incubator with 38 newly-established companies”, he said.

Yengibaryan said the construction of the Engineering City aims at testing a new unprecedented model in the region. “This model will prepare engineering specialists in one place, the companies will be able to use the joint equipment, observe and later produce jointly”, he noted.

The Engineering City is created within the frames of the public-private partnership. According to the program, 1500 highly-qualified specialists of the field will be prepared and trained, 2000 jobs will be created, starts will be established, as well as the companies’ activity efficiency will raise and export volumes will grow.

“As this is going to be an incubator environment, that number will change constantly and will be updated. When the companies enlarge, most probably, they will be withdrawn from the space and will set up their own production infrastructures”, the EIF director said, adding that a new profession has been included in the Armenian State Engineering University – a systematic engineering, which will be taught in the Engineering City.

Bagrat Yengibaryan said the preliminary investments comprise 30 million USD, 10 million of which will be invested by the state.

National Instruments co-founder and CEO James Truchard says Armenia has a very strong technological base which has been built for decades. “Armenia has the latest infrastructures, engineering laboratories and similar other platforms, and the young people have an opportunity to become leading specialists in this field. I think the automated vehicles are a very attractive direction to develop in Armenia since Armenia has all components to make it reality both in educational and engineering terms. Armenia has a good position in the field of high technologies”, Truchard said.

Acting first deputy prime minister of Armenia Ararat Mirzoyan is confident that Armenia will be able to keep the development pace in the high technologies sector.

“We are lucky in this sense as we have a serious school inherited from Soviet Armenia. We just need to make efforts and do everything to keep this development pace and move forward. I know very bright people in this sector whom I believe and I am sure that they can keep this place and Armenia will capture a very important and serious place in the 21st century thanks to these people”, Mirozyan said.



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