Foreign investment in Armenia totals 42m dollars in first quarter of 2004

Mediamax news agency
2 Jun 04

Yerevan, 2 June: The volume of foreign investment in the Armenian
economy totalled 42m dollars in the first quarter of 2004.

The amount of direct investment totalled 28m dollars, the Armenian
National Statistics Service told Mediamax news agency. Against the
same period of 2003, the overall volume of foreign investment grew
by 21.7 per cent, and direct investment by 74.5 per cent.

In January-March 2004, 36.5 per cent of the direct investment was
channelled into the food production sector, including drinks. Some
27.1 per cent of the direct investment was channelled into the
communications sector and 11.7 per cent into the air transport sector.

Russia is ahead in foreign investment in Armenia. It invested over
14m dollars in the republic’s economy in January-March 2004.