RUSSIA PLANS TO INVEST MORE IN ARMENIAN ECONOMY – MEDVEDEV

Interfax News Agency
June 24 2008
Russia

Russia will strengthen its positions as chief investor in the Armenian
economy, President Dmitry Medvedev said."Russia is the main investor
in the Armenian economy. The accumulated capital investments have
topped $1.2 billion already," Medvedev said at a news conference in the
Kremlin on Tuesday after talks with Armenian President Serzh Sargsyan.

Medvedev announced that he had negotiated with his Armenian counterpart
"additional steps to promote major projects being implemented in
Armenia by Russian companies."

Such majors as Gazprom, RUSAL, VimpelCom and VTB Bank are operating
in Armenia, he said.

Medvedev spoke in favor of strengthening "positive trends in investment
cooperation between the two countries in recent years, further
encouraging investment and broadening production and technological
cooperation."