Economist: Armenia's authorities should not expect influx of foreign investment in near future
21.01.2020,
16:24
Armenia's authorities should not expect an influx of foreign investment in the near future, the head of a local think tank Alternative Tatul Manaseryan, told a news conference.
YEREVAN, January 21. /ARKA/. Armenia's authorities should not expect an influx of foreign investment in the near future, the head of a local think tank Alternative Tatul Manaseryan, told a news conference. He said one of the reasons is the absence of domestic investments stimulation.
"No investor will invest their own money in a country where there is no locally-made investments," he said.
'Foreign investments in Armenia are primarily connected with domestic ones, which in turn, are the basis of development, showing the level of trust in the authorities.' he said. According to Manaseryan, institutional changes or a change of government is not enough for foreign investors to invest in Armenia.
According to the Ministry of Economy, in January-September 2019, the net flow of direct foreign investment in the real sector of the Armenian economy stood at o about $267 million.
It said foreign direct investment from Lebanon in telecommunications sector slashed by $16.2 million and investments form France in beverage production fell by $ 11 million. -0-
"No investor will invest their own money in a country where there is no locally-made investments," he said.
'Foreign investments in Armenia are primarily connected with domestic ones, which in turn, are the basis of development, showing the level of trust in the authorities.' he said. According to Manaseryan, institutional changes or a change of government is not enough for foreign investors to invest in Armenia.
According to the Ministry of Economy, in January-September 2019, the net flow of direct foreign investment in the real sector of the Armenian economy stood at o about $267 million.
It said foreign direct investment from Lebanon in telecommunications sector slashed by $16.2 million and investments form France in beverage production fell by $ 11 million. -0-
