

YEREVAN, September 16. /ARKA/. About 50% of IT departments’ graduates have no intention to work in this area, and 50% of the remaining graduates can’t find jobs here because of unfit qualification, Bagrat Yengibaryan, director of Enterprise Incubator Foundation, said Saturday at an informal meeting of leaders of IT sector, presenting the results of the study conducted by the foundation.
Only 25% of the funds spent for IT sector’s needs come back, and this is a grave problem, since specialists are in demand in Armenia.
Yengibaryan said that many work here without necessary higher education.
He thinks a dialogue between the economy and education sector is needed.
“Various education models are being worked out, and we try to spur cooperation among various agencies with them.”
Under such circumstances, many companies have to invest money in training.
“Studies show that not only Armenia, but also the United States and India face a similar problem. Many specialists work in this area only after retraining. However, our problem is not only additional expenses, but also secondary schools, which could train specialists”, Yengibaryan said.
He singled out Synopsis-based IT department of State Engineering University of Armenia as cooperation model.
Yengibaryan also pointed out Sun Microsystems, who created own system for training specialists and improving knowledge to due criteria. The Company cooperates with Yerevan State University, State Engineering University of Armenia and Russian-Armenian (Slavonic) University.
Said that IT specialists mainly work in Yerevan, the director of Enterprise Incubator Foundation stressed the necessity to establish training centers in provinces.
He said IT center in Gyumri and 3D laboratory are successfully training specialists.
“These various models are first steps, taken in an effort to spur cooperation, but universities should set a clear objective – to train specialists, and the private sector should offer support to them to solve the problem with joint efforts.”
Yengibaryan said the government should be interested in supporting cooperation.
“Not only information technologies, but also other education segments face this problem. I wonder why some strategy has not been worked out, since universities educating students receive no support from the government in employing them. As a result, everybody do own job, but all are unhappy about each other”, he said. M.V.-0---
Orange to invest $50 million in its Armenian subsidiary
Armenian mobile telecommunication operators topping list of advertisers
Authorized capital of venture fund to make $40 million.
Study: about 50% of IT departments’ graduates have no intention to work in this area
Armenian economy ministry denies rumors its website was broken by hackers
ADC offers substantial savings for broadband internet, data pro services
Cisco stands ready to deliver communication services in Armenia
28 government agencies to be included in e-workflow system in Armenia by end of 2009
Poll: crisis to cause gradual business decline in Armenian IT-sector:
Orange to present innovations on Armenian market
Incubator enterprise foundation to present Armenia at Eurasec advanced technologies center
Grant Thornton Amiot: Armenia’s it sector attracts investors for its fast development

| Market exchange rates 02/09/2010 | ||||
|---|---|---|---|---|
| Currency | Symbol | Unit | Rate | Changes |
| USA Dollar | USD | 1 | 365.03 | 1.29 |
| Euro | EUR | 1 | 468.19 | 3.8 |
| Russian Rоublе | RUR | 1 | 11.90 | 0.08 |
| Favorable еxchange rates of banks 03/09/2010 | ||
|---|---|---|
| Currency | Buy | Sell |
| USD | 366 ProCreditBank |
367.5 “ArmSwissBank” |
| Euro | 467 Byblos Bank Armenia ProCreditBank |
472 ArmBusinessBank Armenian Development Bank |
| RUR | 11.85 "VTB Bank (Armenia)" BTA Bank |
12 ACBA-CREDIT AGRICOLE BANK Ameriabank ProCreditBank |
| Macroeconomics | ||
|---|---|---|
| Indicator | Term | Figures |
| economic growth,% | 2010-06 | 106.7 |
| GBP, billion AMD | 2010-06 | 1332 |
| inflation, % | 2010-07 | 103.7 |
| Budget deficit (proficit), bln AMD | 2010-06 | 16.9 |
| trade deficit, mln USD | 2010-06 | -1281.2 |
| foreign trade turnover, mln USD | 2010-06 | 2116.8 |
| foreign trade turnover, % | 2010-06 | 129.8 |
| Gross External Reserves, mln. USD | 2010-06 | 1780 |
| Monetary base, billion AMD | 2010-06 | 434.5 |
| Money supply, billion AMD | 2010-06 | 786.6 |
| Financial market | ||
|---|---|---|
| Indicator | Term | Figures |
| Anual interests on loans | ||
| Legal entities in AMD | 2010-06 | 13.8 |
| Legal entities in USD | 2010-06 | 12.6 |
| Individuals in AMD | 2010-06 | 22.6 |
| Individuals in USD | 2010-06 | 19.2 |
| Anual interests on deposits | ||
| Legal entities in AMD | 2010-06 | 8.4 |
| Legal entities in USD | 2010-06 | 7.2 |
| Individuals in AMD | 2010-06 | 9.8 |
| Individuals in USD | 2010-06 | 5.4 |
| Annual profitability | ||
| state stock of CBA, % | 2008-08 | 8 |
| fiscal stock of Armenia, % | 2010-06 | 9.6 |
| The percents of the CBA | ||
|---|---|---|
| Indicator | Term | Figures |
| Banking rate | 2010-07 | 13 |
| Repo | 2010-07 | 7.25 |
| Credit | 2010-07 | 10.25 |
| Depo | 2010-07 | 4.25 |