Knowledge-Based Economy ‘Key to Armenia’s Future’

U.S. Ambassador to Armenia John Heffern

YEREVAN (Arka)—Armenia’s future lies in a knowledge-based economy, said U.S. Ambassador to Armenia John Heffern. Speaking at the first conference of Oracle’s Armenian Users Group in Yerevan he described information technology as the fastest growing sector of Armenia’s economy, posting a 20 percent annual growth rate and a 15 to 20 percent growth in jobs.

“I believe that Armenia’s future lies in the knowledge-based economy and this is why USAID continues working with various Armenian companies, helping to train personnel who can replenish the I.T. labor market,” he said.

Oracle is a U.S.-based corporation, the world’s largest developer of software for organizations and a major supplier of server hardware.

The company specializes in the production of database management systems, middleware, and business applications. Its flagship product is the Oracle Database, which the company has produced since its founding.

Earlier this month US President Barack Obama nominated Richard M. Mills, Jr. as his pick to become the next U.S. ambassador to Armenia. If confirmed by the Senate, Mills will replace John Heffern. Mills is currently Deputy Chief of Mission at the U.S. Embassy Beirut, where he began his tour in 2012.


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  1. Random Armenian said:

    Armenia needs more than just IT. It needs to specialize in a other diverse areas where it makes sense for Armenia.

    What areas or products of production makes sense for Armenia? Are there products that Armenia imports that can be profitably produced in Armenia? Anyone have suggestions? Worth talking about.

  2. Armenian said:

    absolutely right. Knowledge based economies are statistically better off and wealthier as a result of the large amount of money spent on education. The results will take some time to show, but when it does, it is extremely rewarding.