RUSSIA’S INVESTMENT IN ARMENIA GROWS

RosBusinessConsulting Database
May 31, 2007 Thursday 9:21 AM EST

Russia’s investment in Armenia staged 3.5 times to $32.670m in the
first quarter of 2007, which is 23.9 percent of the total investment
amount in the republic’s economy. Armenia’s National Statistics Service
announced these figures today. Direct investments went up 15.5 times
to $23.464m. Therefore, Russia is Armenia’s second largest investor
(after Lebanon).

Most of Russia’s investment was allocated to Armenia’s
telecommunications and metallurgical industries: 66.46 percent and
20.8 percent respectively.