A Memorandum of Understanding on Implementation of Scientific and Technological Projects in Armenia has been signed today between the Ministry of Economic Development and Investments of RA and the global leader in sustainable energy management and industrial automation Schneider Electric Company.

The Memorandum has been signed by the Minister of Economic Development and Investments of RA Suren Karayan and Vice President for Business Development and Strategy of Schneider company in Russia and CIS Armen Badalov.

The parties decided to develop an action plan for the implementation of joint scientific and technological programs in Armenia in order to promote the further development of the innovation ecosystem in Armenia and implement the exchange of technological experience.

During the meeting with Suren Karayan, the Director of Schneider Electric Representation in Armenia Avetik Kalantaryan and the Vice President for Business Development and Strategy of Schneider company in Russia and CIS Armen Badalov represented the projects of the company being implemented in Armenia, particularly, the prospects of production activities, as well as the activity of the Center of Competence for Energy Distribution and Automation. According to Armen Badalov, the special attention of their organization towards Armenia is conditioned by the growth of the country's economic indices and the great potential of engineering abilities.