YEREVAN, October 12. /ARKA/. Russia has invested in Armenia’s economy over $3 billion over the past 20 years, Russia’s Minister of Transport, co-chairman of the Armenian-Russian intergovernmental economic commission, Maxim Sokolov said Friday.
“Direct investments totaled nearly $2.5 billion,” he said following the commission meeting.
The fact that these investments are of direct nature is of the utmost importance, “in other words, they are injected into enterprises, material and technical base, business development. They are not of portfolio nature.”
Minister abstained from projecting total volume of investments at 2012’s out, noting that as of now it is early to make any forecasts.
“Investors, as a matter of fact, make plans depending on investments and maximum concentration of resources by the end of the year,” Sokolov said.
According to the National Statistical Service of Armenia, Russia’s investments in real sector of Armenian economy slashed by 80.5% to $40.3 million in Jan-June 2012 from the same period a year earlier (excluding credits, obtained from state administration bodies and banking sector). -0-