ARMENIAN PM: TOTAL VOLUME OF FRENCH INVESTMENTS IN ARMENIAN ECONOMY EXCEEDS $160 MLN

ARMINFO News Agency
September 30, 2006 Saturday

The total volume of French investments in the Armenian economy exceeds
$160 mln, Armenian Prime Minister Andranik Margaryan said during
a meeting with a group of French businessmen who came to Armenia
together with French President Jacques Chirac.

The press service of the Armenian Government reports Margaryan to
say that there are 111 companies with French capital in Armenia –
among them such world renowned companies as Pernod Ricard, Castel,
Credit Agricole. Margaryan said that there are good opportunities
for organizing joint ventures in industry, agricultural processing,
power engineering, telecoms and IT.

The Armenian community of France is a good basis for economic
cooperation and is very helpful in joint projects.

Margaryan told the French businessmen that in the last 5 years the
macro-economic situation in Armenia has been stable and predictable.

In 2005 the economy grew by 14%, industry by 7.5%, export by 31.5%,
foreign investments by 31%. The foreign trade turnover between Armenia
and France is successfully developing. There are wide opportunities
for commodity turnover growth. Margaryan is sure that the conduct of
the Year of Armenia in France will open up new prospects for friendship
and cooperation between the two nations and states.

The French businessmen expressed interest in investment in health care,
agricultural light industry and IT.

To note, in Jan-June 2006 the volume of French investments in the
Armenian economy totalled $4.6 mln – 48.1% less than in Jan-June
2005. The foreign trade totalled $25.3 mln – 52.4% more than a
year before.