DIASPORA ARMENIANS INVEST LESS THAN EXPECTED

Armenpress

YEREVAN, SEPTEMBER 20, ARMENPRESS: Manuk Hergnyan, an expert from
an economic think-tank, called Economy and Values, told the third
Armenia-Diaspora Conference in Yerevan yesterday that the share of
Armenian Diaspora investments in Armenia’s economy between 1994-2004
made only 25 percent or only $260 million in terms of money.

Hergnyan said Armenian authorities managed to attract the bulk of
investments, about 40 percent, through infrastructure development
programs. He said these investments were made by non-Armenians.

But along with this Diaspora Armenians make 70 percent of all direct
foreign investors. So, in terms of numbers, Diaspora Armenians exceed
all other investors. Hergnyan said an average investment made here
by a Diaspora Armenian businessmen is between $150,000-$200,000. This
means, the expert said, that Diaspora Armenians do not invest heavily
in the ancestors’ land.