RUSSIAN INVESTMENTS IN ARMENIA $449.4MLN IN 2007

ARKA
March 31, 2008

YEREVAN, March 31. /ARKA/. Russian investments in Armenia totaled
$449,362,100 in 2007, with direct investments being $293,212,500
– 53.2% of the total investments and 50.4% of direct investments
in Armenia respectively. Russian investments in Armenia increased
2.1-fold in 2007 as compared with 2006, with a 1.9-fold increase in
direct investments recorded.

Russia was the leading investor in Armenia in 2007. A total of
$220.9mln or 49.2% of Russian investments were directed to the
generation and distribution of electric energy, gas, hot water and
steam, $127.7mln or 28.4% to the communication sector, $45mln or 10%
to the metallurgy industry.

Investments were also made in the private services sector ($15.2mln),
recreation and entertainment, cultural and sport spheres ($11.1mln)
and other services ($25.2mln).

In 2006, Russian investments in Armenia totaled $212.3mln, with direct
investments being $153.6mln.

In 2007, foreign in vestments in Armenia’s economy totaled $845.4mln,
with direct investments in the real sector totaling $582.3mln.

By 2008, net foreign investments in Armenia (1988 to 2007) had exceeded
$2.6bln, with over $1.4bln of them being Russian investments (direct
investments totaled $2.1bln and $1bln respectively).

From: Emil Lazarian | Ararat NewsPress