Today 222 enterprises in Armenia operate in the field of information technologies. As reported by "Arka" agency, Executive Director of the Union of Information Technologies Enterprises Victoria Ter-Nikoghosian reported it at the presentation of IT studies in Armenia held by the Union. In her words, some 60 companies are engaged in producing software, 26 of which are created with attraction of foreign capital. Besides, there are 24 education institutions preparing IT specialists, 19 companies providing Internet-services in the country. 68% of Armenian software export falls to the U.S. share. Germany, Holland and Russia have the share of 8% each and Georgia and France's share is 4% each. Approximately 65% of software produced in Armenia are being exported, and there are different estimates concerning their prices. According to the estimates of the World Bank, which has used data of 35 enterprises, Armenian annual export makes 15-20 million dollars, while according to the data by the Department of Statistics of the Republic of Armenia, which is based on the activities of 15 companies, the export makes 2 million dollars. Victoria Ter-Nikoghosian enumerated poor marketing and management, the monopoly of "ArmenTel" Telecommunication Company, "which is not interested in developing Internet in Armenia," among the obstacles for development of the branch. She also pointed out "due to the country's imperfect legislation concerning intellectual property protection, some companies prefer registering in Russia."