Prime Minister Karen Karapetyan met today with the deputy director of the Italian company IDS, Alberico Parente, and with the general director of the company Tehnologi and Science Dynamics (TSD) Vahan Shakaryan.

July 14, IDS and TDS companies announced the beginning of cooperation in the field of IT and investment of 10 million euros to create a new industry research laboratory and production of high-tech milling cutters.

Prime Minister Karapetyan welcomed and stressed the importance of investments in the IT sector for our country, and assured that in the face of our government, the Italian company and, in general, foreign investors have a reliable partner.

IDS Deputy Director thanked the Prime Minister for his readiness to support and appreciated the active work of the Development Fund of Armenia aimed at cooperation. Noting that there are good reasons for carrying out scientific research in Armenia, Alberico Parente said that first the company planned to invest in the milling industry, but it would not be limited to this sphere.

Vahan Shakaryan and Alberico Parente presented the details of the investment program to Karen Karapetyan. It was noted that the project will be implemented within 5 years, and in case of increase in volume, a separate center will be created. The deal became possible as a result of the first meeting of the "Armenian-Italian intergovernmental commission" and within the framework of the "Armenia-Italy" business forum, establishment and achievement of concrete agreements and bilateral business ties.

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