Interfax
April 2 2004
Foreign investment in Armenian economy up 5.6% in 2003
Moscow. (Interfax) – Foreign investments in Armenia’s economy in 2003
totaled $229.6 million, a 5.6% increase from 2002, the country’s
National Statistics Service told Interfax. Direct foreign investment
increased 8.9% to $153 million.
In particular, investment from Russia jumped 92.2% to $91.8 million,
from the United States 9.2% to $10.7 million and from Greece 55.4% to
$29.3 million. German investments were up 32.5 times at $1.8 million.
Armenia’s communications sector attracted $29.3 million, its food
industry $12.9 million and iron ore extraction business $122 million.