Head of association of domestic manufacturers: $350 million invested from outside in Armenia’s economy in 2012
22.02.2013,
18:12
Foreign investments in Armenia’s economy totaled $350 million and made up 3.5% of GDP in 2012, Vazgen Safaryan, chairman of the Association of Domestic Manufacturers, said at a news conference on Friday.
YEREVAN, February 22. /ARKA/. Foreign investments in Armenia’s economy totaled $350 million and made up 3.5% of GDP in 2012, Vazgen Safaryan, chairman of the Association of Domestic Manufacturers, said at a news conference on Friday.
“This is quite a low indicator, since in European countries this ratio reaches 30%,” he said. “Such a low indicator is the result of the authorities’ policy. I hope the government’s special focus on industry will make it possible to put things right in the future.”
Safaryan said post-election processes in Armenia impact investors’ mind, but will have only a short-term effect on amounts of investments.
He said that the ongoing negotiation between the first and the second vote-getters in the Armenian presidential election creates some tension, which also affects sentiments abroad.
According to the preliminary results of the poll released by the Central Election Commission, Serzh Sargsyan, the incumbent president, was reelected by 861,378 voters (58.64%).
Raffi Hovannisian, who won 539,674 votes, disputes the results of the election saying they were rigged. (36.74%).
National Statistical Service of Armenia says aggregate foreign investments in Armenia’s economy amounted to $391.1 million in Jan-Sept 2012 – 35.2% decline, compared with the same period a year earlier. -0-
