Law No. HO-498-N “On state support in high technology sector”.

This Law defines the main principles of state support for the high-tech sector and regulates the formation and operation of the system for implementing state support in this sector and related fields. The basic concept of high-tech sector is that high technologies represent new opportunities, information, knowledge, experience, material, a set of measures aimed at developing and creating competitive products in the economy, and which is based on scientific and technical innovations, including information technologies. High-tech sector organization or individual entrepreneur shall be intended a legal entity or individual entrepreneur resident in the Republic of Armenia, of which at least 90 percent of the sales turnover from all types of activities declared in the tax calculations for value added tax and (or) turnover tax during the reporting period for the provision of state support was formed from types of activities in the high-tech sector. State support shall be intended the amount provided to organizations or individual entrepreneurs or other entities in the field of high technologies from the state budget of the Republic of Armenia. State support for the high-tech sector is implemented through state and private entities based on the principles of sector cooperation, as well as publicity. The types of activities in the high-tech sector subject to state support, according to the classifiers of economic activities, are defined by the Government. The goal of state support in the high-tech sector is to: (a) increase the competitiveness of high-tech industries; (b) attract new labor; (c) continuously improve the skills of employees; and (d) strengthen the country's position as an exporter of products.