Arsen Ghazaryan, head of Armenia’s Union of Manufacturers and Businessmen, believes that the war in Ukraine may offer Armenia certain economic benefits despite the challenges it poses.

At a meeting of the union’s board yesterday in Yerevan, Artashes Shirikyan, who represents the organization in Moscow, a representative of the Union of Manufacturers and Entrepreneurs of Armenia in Moscow, said that many businesses in Russia are seeking to relocate to avoid western imposed sanctions and that Armenia needs to act fast to attract them.

Speakers mentioned that many top-quality specialists, including from the IT sector, are looking to relocate and that they can fill the 3,000 IT sector shortage of workers in Armenia.