Iran to Help Establish Technology Fund in Armenia

Director of Iran’s National Innovation Fund (INIF) Ali Vahdat announced that the institution stands ready to help launch Armenia’s Technology Fund.

“I suggest a region be established for the joint production of goods by Iranian and Armenian companies, and end products be offered on world markets,” he said.

“We will financially support Iranian companies to launch their production sites in Armenia,” he added.

“Given the good experience of the [Iranian] Innovation Fund in providing financial support for the innovation ecosystem in Iran, we can help make Armenia’s Technology become operational,” Vahdat explained.

He said Iran is also prepared to launch a sci-tech park in Armenia and share its experience with that country in that regard.

“Armenia can be a gateway for Iranian products to find their way into European and Eurasian markets,” he said.

Vahdat also called for the enhancement of Iran-Armenia trade.

“Iran-Armenia economic relations stood at less than $500 million at their peak while there was potential for the figure to be higher,” he said.