German investments in Armenia reach $840 million
13.10.2014,
15:30
The overall German investments into Armenian economy have reached a total of $840 million, Vahagn Lalayan, head of an Armenian economy ministry’s department in charge of investment policy said today when speaking at the Armenian-German business forum in Yerevan.
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YEREVAN, October 13. / ARKA /. The overall German investments into Armenian economy have reached a total of $840 million, Vahagn Lalayan, head of an Armenian economy ministry’s department in charge of investment policy said today when speaking at the Armenian-German business forum in Yerevan.
"Of this amount $118 million were invested in Armenia’s real economy sector in the first half of 2014. Of that amount about $22 million were direct investment,” said Lalayan.
According to him, the bulk of investments were challenged into mining, textile and equipment manufacturing sectors.
Lalayan singled out major joint projects being implemented in Armenia by Germany. They are Cronimet, the largest investor in Armenia’s Zangezur cooper and molybdenum combine, Elbat joint Armenian-German company for production of batteries, Zeppelin dealer, Knauf and many others.
The two-day Armenian-German business forum was started today. It is the joint effort of the Armenian Development Agency and the German Embassy in Armenia.
The forum has brought to Yerevan German businessmen representing various areas of the industry - manufacturers of pumps and measuring equipment, machine tools for the production of food packaging, energy sector and production of agricultural machinery. -0—
