Levitin says Armenia 3rd in CIS in terms of Russian investment

Prime-Tass English-language Business Newswire
October 13, 2004

YEREVAN, Oct 13 (Prime-Tass) — Armenia occupies third place among CIS
countries in terms of Russian investments into the country’s economy,
Russia’s Transportation and Communication Minister Igor Levitin told
an international economic forum Wednesday.

Levitin said, “Russia’s investments into Armenia’s economy have been
in different sectors of the economy, but mostly in the industrial
and banking sectors.”

In 2003, Russia’s direct investment in Armenia’s economy amounted to
U.S. USD 68 million, accounting for 44% of total foreign investments
in the Armenian economy. End