Economic Development

For more than twenty years, FAR has offered Armenians a wealth of financial, educational and marketing opportunities. Through the Gyumri Information Technology Center (GTech) and the Armenian National Science and Education Fund (ANSEF), FAR has helped to rebuild infrastructure, create employment and given more Armenians a chance to enhance their skills. This is incredibly important for a nation still trying to recover from the 1988 earthquake, transition from Soviet rule and widespread emigration, among other things.

Partnering with technology companies, FAR created GTech in 2005 with the goal of broadening the skills of young Armenians and expanding opportunities in the region. Since then, the growth of a qualified labor force has revitalized the economy, spurring partner companies to open branches in Gyumri. Many engineers and IT specialists have been able to acquire Gyumri-based jobs in relevant technology fields, which will ultimately help to build Gyumri’s IT development capabilities. GTech also bolsters development by providing an incubator space for start up IT businesses.

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