Russian investments in Armenia $449.4mln in 2007

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Economy

01.04.2008, 02:20

Russian investments in Armenia totaled $449,362,100 in 2007, with direct investments being $293,212,500 – 53.2% of the total investments and 50.4% of direct investments in Armenia respectively.

YEREVAN, March 31. /ARKA/. Russian investments in Armenia totaled $449,362,100 in 2007, with direct investments being $293,212,500 – 53.2% of the total investments and 50.4% of direct investments in Armenia respectively. Russian investments in Armenia increased 2.1-fold in 2007 as compared with 2006, with a 1.9-fold increase in direct investments recorded.

Russia was the leading investor in Armenia in 2007. A total of $220.9mln or 49.2% of Russian investments were directed to the generation and distribution of electric energy, gas, hot water and steam, $127.7mln or 28.4% to the communication sector, $45mln or 10% to the metallurgy industry.

Investments were also made in the private services sector ($15.2mln), recreation and entertainment, cultural and sport spheres ($11.1mln) and other services ($25.2mln).

In 2006, Russian investments in Armenia totaled $212.3mln, with direct investments being $153.6mln.

In 2007, foreign in vestments in Armenia’s economy totaled $845.4mln, with direct investments in the real sector totaling $582.3mln.

By 2008, net foreign investments in Armenia (1988 to 2007) had exceeded $2.6bln, with over $1.4bln of them being Russian investments (direct investments totaled $2.1bln and $1bln respectively). P.T. –0--

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