Some $76 million Argentinean investments injected into Armenia’s economy this year; deputy economy minister

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Economy

17.10.2013, 15:40

Some $76 million of Argentinean investments have been injected into Armenia’s economy this year, according to a deputy Armenian economy minister Gagregin Melkonyan, who spoke at the opening of the first Armenian-Argentinean business forum in Yerevan.

Some $76 million Argentinean investments injected into Armenia’s economy this year; deputy economy minister

YEREVAN, October 17. / ARKA /. Some $76 million of Argentinean investments have been injected into Armenia’s economy this year, according to a deputy Armenian economy minister Gagregin Melkonyan, who spoke at the opening of the first Armenian-Argentinean business forum in Yerevan.

The investments have been channeled primarily into transport, banking and agricultural sectors. The major investor is an Argentinean-Armenian businessman Eduardo Eurnekyan.

Eduardo Eurnekian is the owner of Corporation America company that runs Armenia’s international airport Zvartnots. He is also the largest shareholder in Conversebank and also finances a string of major agricultural projects.

The first three-day Armenian- Argentinean business forum has kicked off today in Yerevan and will run through October 19. Argentinean business people representing pharmaceuticals, textile and meat businesses have arrived in Armenia to take part in it. The event was initiated by the Armenian Development Agency (ADA) in cooperation with the embassy of Argentina in Armenia.

According to the National Statistical Service of Armenia, Argentina was the largest foreign investor in the Armenian real economy sector in the first half of this year ($76 million), more than a ten times increase from the year before. Moreover, FDI from Argentina increased by 67.2 % to $8.2 million

The bulk of investments ($ 72.3 million) went to air transport, $565,000 to construction and $3.3 million to crop production and cattle breeding. -0-

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