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Foreign Investments To Amount To $260-280 Million


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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

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