Foreign investment in Armenia grew by $ 268 million in 9 months of 2019
14.01.2020,
16:23
In the first 9 months of 2019 foreign investment in Armenia's economy grew by $ 268 million year-on-year, Economy Minister Tigran Khachatryan told reporters on Tuesday.
YEREVAN, January 14. /ARKA/. In the first 9 months of 2019 foreign investment in Armenia's economy grew by $ 268 million year-on-year, Economy Minister Tigran Khachatryan told reporters on Tuesday.
He said the main investors were Russia ($128 million) and Germany ($85 million), and the main sectors the investment were channeled into were energy, mining and processing industry.
He also noted that foreign direct investment during the reporting period decreased by $ 60 million to $68 million.
He said also the average ratio of investments to GDP is about 16%, while the goal is raise it to 25%, for which it is necessary to increase government investment, develop infrastructures, increase investor confidence and stimulate the growth of domestic investment.
The minister also recalled that Moody's and Fitch evaluate the investment environment of the country as favorable.
Regarding the drop in direct foreign investments, he said investments from Lebanon in Armenia's telecom sector dropped by $ 16.2 million , investments form France into beverage production fell by $11 million.. Investments in the mining sector also dropped. -0-
He said the main investors were Russia ($128 million) and Germany ($85 million), and the main sectors the investment were channeled into were energy, mining and processing industry.
He also noted that foreign direct investment during the reporting period decreased by $ 60 million to $68 million.
He said also the average ratio of investments to GDP is about 16%, while the goal is raise it to 25%, for which it is necessary to increase government investment, develop infrastructures, increase investor confidence and stimulate the growth of domestic investment.
The minister also recalled that Moody's and Fitch evaluate the investment environment of the country as favorable.
Regarding the drop in direct foreign investments, he said investments from Lebanon in Armenia's telecom sector dropped by $ 16.2 million , investments form France into beverage production fell by $11 million.. Investments in the mining sector also dropped. -0-
