In the first half of 2021, Israel’s high-tech industry showed insane growth. Local companies attracted $11.9 billion in investment, already exceeding the total investment in 2020 by $10.3 billion. However, the chronic shortage of technical personnel in the country remains a problem. That is why the Israeli IT company Webiz opened a branch in Armenia.

Webiz was founded in Tbilisi to train local technicians to work with Israeli technology and innovation companies. The company, its human resources, and training centers are also a link between Israeli entrepreneurs and Georgian technology initiatives that seek partnership with the Israeli high-tech industry.

Over the past 10 years, the IT sector in Armenia has shown unprecedented growth, recording an average annual growth of 23%. Over the past two years, more than 20 start-up companies in Armenia have together received 700 million dollars of investment. Armenian start-ups are exempt from taxes on business, and the income tax for employees is 10%. According to 2021 data, the total turnover of IT companies operating in Armenia exceeded 1 billion dollars. As of 2021, the industry employs 29,000 professionals.