Siamanto Posted November 17, 2004 Report Share Posted November 17, 2004 FOREIGN INVESTMENTS TO AMOUNT TO $260-280 MILLION IN ARMENIA THIS YEAR Azg/arm 16 Nov 04 Recently, the UNDP and RA Trade and Economic Development Ministry represented World's Investments Report 2004 at Armenian Development Agency. Touching upon the report, Liz Grande, the UN representative, informed that it is already the third year that the foreign investments have decreased in the entire world, amounting to $560 billion. Moreover, the biggest decrease is fixed in the EU countries and the North America, amounting to $110 billion. While in Armenia, as well as in the region as a whole, the investments have increased in the same period. Tigran Davtian, RA Trade and Economic Deputy Minister, emphasized that the growth of the foreign investments in Armenia is taking place on the background of the decrease of the world's investments. In the first half of this year the foreign investments have increased by about 40 % and they will amount to $260-280 million as it was envisaged for the end of the year. Deputy Minister stated that a number of large investment programs will be carried out in November-December of this year. He also reminded that last year the investments made in Armenia amounted to $230 million. Afterwards, they informed that the investments' structure has been changed. At present they have increased in the real sector of the economy, in the light industry, mine industry, construction and in other fields, too. The biggest investments in Armenia are made by Greece, Argentina, the US and France. The local investments have increased as well. Tigran Davtian didn't want to compare the investments made in Armenia and Azerbaijan, saying that in Azerbaijan the investments are made in one sphere only. As for Georgia, after the political changes the interest of the foreign investors to this country has increased. The deputy minister welcomed this phenomenon, saying for the most of the foreign investors Armenia is considered a small market and that would be beneficial to offer them the Georgian marketas well. While the activization of Armenian-Georgian economic relations inspire with hope that in future it will be possible to establish an Armenian-Georgian regional market, Tigran Davtian stated. By Ara Martirosian http://groong.usc.edu/news/msg97049.html Quote Link to comment Share on other sites More sharing options...
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