Russian direct investments make up 39.5% of foreign direct investments into Armenia’s economy
YEREVAN, September 5. /ARKA/. Russia’s direct investments make up 39.5% of foreign direct investments into Armenia’s economy, Evgeny Vinokurov, the head of the Eurasian Bank’s Center for Integration Studies, said in an interview with ARKA News Agency.
He said the direct investments of Customs Union member countries in Armenia almost fully consist of Russian investments, which amounted to $1.93 billion in late 2012.
Kazakhstan and Belarus’ direct investments in Armenia’s economy total $13 million.
“The amount of Russian investments in Armenia is significant especially given that Armenia is the country with ninth largest GDP in the Commonwealth of Independent States plus Georgia and the fifth country for its accumulated Russian investments in the region. Russia is Armenia’s largest investor,” Vinokurov said in his interview.
He said Russian direct investments in Armenia are intended for modernization of backbone sectors of the economy – railways, gas transportation, electric energy, nonferrous metals industry, banking and insurance as well as mobile telecommunication, Internet and data transmission. ---0----