Microchip Technology Coming to Armenia
Armenia attracts foreign investment in microchip manufacturing as Microchip Technology, a US-based company with a market capital of $50 billion, plans to expand its team in Armenia. According to the Minister of Economy, Vahan Kerobyan, Microchip Technology has acquired Instigate Semiconductor company and will leverage the joint team created in Armenia to drive expansion. This move follows the success of NVIDIA and AMD, two leading microchip manufacturers, who have already established offices in Armenia. The country's favorable business climate and thriving ecosystem have enabled companies to create university programs and gather know-how to develop high-quality specialists. Additionally, Shell is set to open three modern gas stations in Armenia, highlighting the country's attractiveness to top 500 companies. With these developments, Armenia's economy is poised for growth, productivity, and innovation.