SERGEY IVANOV: RUSSIA KEY INVESTOR IN ARMENIA

ArmInfo
2009-05-16 11:40:00

ArmInfo. Russia is the key investor in Armenia at present, Russian
Vice Premier Sergey Ivanov told media in Yerevan on Saturday.

He said Russia’s aggregate direct investments in economy of Armenia
totaled $1.8 billion. He said nearly 1000 companies with Russian
capital operate in Armenia. ‘Almost all the big Russian companies are
represented in Armenia, including Russian Railways’, Sergey Ivanov
said during his visit to the Armenian subsidiary of Russian Railways-
South Caucasian Railway (SCR). He said the company plans to make
2.7 billion rubles aggregate investments in Armenia in 2009. ‘The
Russian Railways is able to make such investments despite the crisis
in economy’, he said. Sergey Ivanov said the investments will be
first of all used to restore the railway equipment. ‘The Armenian
railway should be put right and there is still much do be done to
restore the railway equipment’, the vice premier said.

Sergey Ivanov said he arrived in Yerevan on a working visit to discuss
further prospects of development of economic relations between Armenia
and Russia. During his meeting with Armenian Prime Minister Tigran
Sargsyan Friday, S. Ivanov discussed the prospects of development
in the sphere of transport, high technologies, energy, as well as
activation of the Armenian enterprises transferred to Russia in
exchange for Armenia’s state debt. The sides also discussed the
route of Caucasus- Poti-Caucasus railway cargo transportation and
Novorossiysk-Poti-Novorossiysk auto-ferry.