Most intensive foreign investment flow comes to communication sector

YEREVAN, March 31. /ARKA/. The most intensive foreign investment flow to Armenia was recorded in communication area at the period between 1998 and 2007.

The outside investments in communication sector make 25.96% of total investment and 19.83% of direct investments in Armenia’s real sector.

National Statistical Service of Armenia told ARKA News Agency that $873.4 million has been invested in communication sector.

Of them, direct investments total $470.3 million.

$261.2 million was invested in communications in 2007 alone, $149.4 million as direct investments.

The statistical report says that the second largest target for outside investments is electricity, gas, hot water and steam production and distribution - $615.6 million (18.3%), of which $596.4 million (25.15%) as direct investments. This sector has outdone the communication sector on direct investments.

Foreign investors have invested a great deal also in mining industry. They invested $257 million, of which $256.7 million as direct investments.

$224.8 million ($13.4mln direct investment) was invested in metallurgy, $223.6mln ($182.7mln direct investments) in food industry.

Besides, $135.9 million was sent to the area connected with air transport, $114.5 million to hotel and restaurant business, $110.1 million to real estate sector and $105.5mln to car wholesale through agents.

Other sectors’ cumulative investments were less than $100 million.
Foreign investments in Armenian real sector for 1998/2007 total $3364.6 million, of which $2372mln are direct investments. M.V.-0---