FOREIGN INVESTMENTS TO AMOUNT TO $260-280 MILLION IN ARMENIA THIS YEAR
Azg/arm
16 Nov 04
Recently, the UNDP and RA Trade and Economic Development Ministry
represented World’s Investments Report 2004 at Armenian Development
Agency. Touching upon the report, Liz Grande, the UN representative,
informed that it is already the third year that the foreign
investments have decreased in the entire world, amounting to $560
billion. Moreover, the biggest decrease is fixed in the EU countries
and the North America, amounting to $110 billion. While in Armenia, as
well as in the region as a whole, the investments have increased in
the same period.
Tigran Davtian, RA Trade and Economic Deputy Minister, emphasized that
the growth of the foreign investments in Armenia is taking place on
the background of the decrease of the world’s investments. In the
first half of this year the foreign investments have increased by
about 40 % and they will amount to $260-280 million as it was
envisaged for the end of the year. Deputy Minister stated that a
number of large investment programs will be carried out in
November-December of this year. He also reminded that last year the
investments made in Armenia amounted to $230 million.
Afterwards, they informed that the investments’ structure has been
changed. At present they have increased in the real sector of the
economy, in the light industry, mine industry, construction and in
other fields, too. The biggest investments in Armenia are made by
Greece, Argentina, the US and France. The local investments have
increased as well.
Tigran Davtian didn’t want to compare the investments made in Armenia
and Azerbaijan, saying that in Azerbaijan the investments are made in
one sphere only. As for Georgia, after the political changes the
interest of the foreign investors to this country has increased. The
deputy minister welcomed this phenomenon, saying for the most of the
foreign investors Armenia is considered a small market and that would
be beneficial to offer them the Georgian marketas well. While the
activization of Armenian-Georgian economic relations inspire with hope
that in future it will be possible to establish an Armenian-Georgian
regional market, Tigran Davtian stated.
By Ara Martirosian