RUSSIAN INVESTMENTS IN ARMENIA $880.1MLN LAST YEAR

ARKA
Apr 1, 2009

YEREVAN, April 1. /ARKA/. Russian investments in Armenia totaled
US $880,071,700, with direct investments totaling US $714,508,800 –
69.98% of the total foreign investments and 71.4% of direct investments
in Armenia.

The RA Statistical Service reports that Russian investments in Armenian
doubled in 2008 as compared with the previous year, with a 2.4-fold
increase in direct Russian investments registered.

In 2008, Russia proved to be the largest investor in Armenia.

Russian investors directed a total of US $476.3mln (54.1% of total
investments) in the generation and distribution of energy, gas, hot
water and steam, US $197.3mln (22.4%) in the communication sector,
US $136.3mln (15.5%) in surface transport and US $29.2mln (3.3%)
in metallurgy.

Russian funds were also invested in other services (US $18.6mln),
personal services (US $10.3mln), recreation and entertainment,
cultural and sporting activities (UIS $6.2mln), etc..

In 2007, Russian investments in Armenia totaled US $449.4mln, with
direct investments being $293.2mln.

Last year, foreign investments in the Armenian economy totaled
$1,257.6mln, with direct investments totaling US $1,000.9mln.