Republican Party of Armenia

 Prime Minister Tigran Sargsyan visited the premises of Mentor Graphic Armenia Company at the TUMO Center for Creative Technologies to get acquainted with the activities of the newly founded local headquarters.

Welcoming those present, the Prime Minister first congratulated all the home IT operators on the progress made over the past five years. Tigran Sargsyan noted that qualitative changes are being made in the IT sector, which is one of his government’s priorities.

“Armenia-based world-famous IT companies have obviously contributed to qualitative changes. We are here to state one of Mentor Graphic’s achievements, namely that during its five-year activities, the company has increased its output several times recruiting highly professional staff. The company has thereby contributed to the development of IT sector in Armenia owing to which our country boasts a competitive edge in information technologies. Indeed, we should not stop at this as we have a lot to do yet,” Tigran Sargsyan pointed out.

According to the Premier, Armenia needs more leading companies in the IT sector to bring in new corporate culture and shape new business relations.

“On the one hand, this is an opportunity for us to continue playing a role in the world economy. On the other hand, it will help us speed up the reform process. Mentor Graphics is just one of those companies inspiring us ahead. We should continue our strategy to create a favorable business environment for similar operators,” Tigran Sargsyan added.

Hailing the involvement of leading IT companies, U.S. Ambassador to Armenia John Heffern noted, “I would like to compliment to the Prime Minister and his government for providing such favorable conditions as have attracted international investors such as Mentor Graphics, Inc.”

Mentor Graphics President Gregory Hinkle said his company will do everything to ensure Armenia’s success in the IT industry. According to him, Armenia provides 5% of the global output in the field of electronic design automation, which is the key to our country’s advancement in the global marketplace.

Mentor Graphics, Inc (Nasdaq: MENT) is a US-based multinational corporation dealing in electronic design automation (EDA) for electrical engineering and electronics. Its operations cover the U.S.A., Europe, Japan, Pakistan, India, Egypt and Armenia. Mentor Graphics provides high-quality advisory and maintenance services to major companies worldwide.

In 2008, Mentor Graphics, Inc opened a field office in Armenia through the purchase of Ponte Solutions (Mountain View, California). The Company has since roughly doubled its capacity. In 2008, Mentor Graphics only had one operational unit and some 40 staff, while it now boasts 3 operational units strong with 120 staff.