Russia & CIS Business and Financial Newswire
December 4, 2007 Tuesday 10:38 AM MSK

Foreign direct investment in Armenia doubles in Jan-Sept

YEREVAN Dec 4

Foreign direct investment in Armenia more than doubled year-on-year
to $311.6 million in the first nine months of 2007, the National
Statistics Service reported.

Overall foreign investment grew 58% to $469.9 million in the period.

The communications sector received $127.4 million or 40.9% of all
FDI, the energy sector received $54.9 million or 17.6% and water and
gas supply received $25.9 million or 8.3%.

The leading investor in Armenia was Russia with $175.9 million,
including $101.6 million of FDI, respectively 410% and about 63 times
more than a year earlier. Investment from Lebanon jumped 140% to $134
million, including $82.9 million of FDI, up by about 73 times.

But investment from Argentina dropped 42.9% to $24.9 million,
including $16.5 million of FDI, down 56%.