Armenian president urges Italian entrepreneurs to invest more in Armenia
15.12.2011,
00:35
Armenian president Serzh Sargsyan urged Italian entrepreneurs to invest more in Armenia describing the current level of Italian investment in Armenia as ‘unsatisfactory during a meeting with Italian business people on the sidelines of his working visit to
YEREVAN, December 14. /ARKA/. Armenian president Serzh Sargsyan urged Italian entrepreneurs to invest more in Armenia describing the current level of Italian investment in Armenia as ‘unsatisfactory during a meeting with Italian business people on the sidelines of his working visit to Italy, according to Serzh Sargsyan’s press office.
According to the National Statistical Service of Armenia, Italian investments in Armenia in January - September 2011 amounted to $3.8 million, an increase of 1.9% over the same period of 2010.
According to Sargsyan, Italian investments in Armenia are channeled into the construction, hotel industry and light industry sectors.
"However, in general, the volume of Italian investments in Armenia is twice less that Cyprus investments, 3 times less than investments from the Netherlands, 6 times less than German, 8 times less than Greek and 12 times less than French investments," he said.
He added that trade between Italy and Armenia for the first nine months of 2011 soared by 50% from a year earlier to $130 million, "but this is not enough."
"Of course, it is nice to pronounce 50 percent, but in absolute terms these numbers are not satisfactory," said Sargsyan.
According to him, Armenia is interested in developing mutual cooperation in small and medium-sized businesses, which is the basis of the Italian economy.
During the meeting the Armenian president also emphasized the important role of historical proximity between Italian and Armenian peoples, and expressed hope that economic cooperation between the two friendly countries will develop and intensify in the future. The working visit of the Armenian delegation headed by Serzh Sargsyan started on 12 December and will run through December 15. -0-
According to the National Statistical Service of Armenia, Italian investments in Armenia in January - September 2011 amounted to $3.8 million, an increase of 1.9% over the same period of 2010.
According to Sargsyan, Italian investments in Armenia are channeled into the construction, hotel industry and light industry sectors.
"However, in general, the volume of Italian investments in Armenia is twice less that Cyprus investments, 3 times less than investments from the Netherlands, 6 times less than German, 8 times less than Greek and 12 times less than French investments," he said.
He added that trade between Italy and Armenia for the first nine months of 2011 soared by 50% from a year earlier to $130 million, "but this is not enough."
"Of course, it is nice to pronounce 50 percent, but in absolute terms these numbers are not satisfactory," said Sargsyan.
According to him, Armenia is interested in developing mutual cooperation in small and medium-sized businesses, which is the basis of the Italian economy.
During the meeting the Armenian president also emphasized the important role of historical proximity between Italian and Armenian peoples, and expressed hope that economic cooperation between the two friendly countries will develop and intensify in the future. The working visit of the Armenian delegation headed by Serzh Sargsyan started on 12 December and will run through December 15. -0-
