FOREIGN INVESTMENT IN ARMENIA GROWS 28% IN H1

Interfax News Agency
Russia & CIS Business and Financial Newswire
August 31, 2006 Thursday 7:06 PM MSK

Foreign investment in Armenia grew 27.9% year-on-year in the first
half of 2006 to $178.5 million, the National Statistics Service
told Interfax.

Foreign direct investment (FDI) grew 9.2% to $86.3 million. The
communications sector received 33.1% of the FDI, the mining industry
14.3%, air transport 9.4% and food industry 9.2%.

Lebanon was the biggest investor with $49.6 million (up 110% year-
on-year), including $652,700 of direct investment. Greece was second
with $37.9 million, down 35%, followed by Argentina – $17.2 million
and Germany, which boosted investment 63.1-fold to $12.1 million.

Armenia received $19.2 million from Russia, up 41.9%, including $1.5
million in direct investment, down 2.3%.