As ADA Director Estimates, Diasporan Armenians’ Investment Activity

AS ADA DIRECTOR ESTIMATES, DIASPORAN ARMENIANS’ INVESTMENT ACTIVITY IN ARMENIA IS UNSATISFACTORY

Noyan Tapan
Armenians Today
Mar 13 2006

YEREVAN, MARCH 13, NOYAN TAPAN – ARMENIANS TODAY. Armenian Development
Agency Director General Vahagn Movsisian estimated the Diasporan
Armenians’ investment activity in Armenia as unsatisfactory at the
March 11 press conference.

According to his information, 6 mln Diasporan Armenians live abroad
in about 1.5 mln families, the property of each of them can amount to
100 thousand USD. “We have an investments source valued 150 bln USD,
and even 2-3% of this isn’t used,” V.Movsisian said. According to
him, 300-400 big entrepreneurs having no bisiness connection with
Armenia work in big foreign cities. For the purpose of promoting
their investment activity and export of Armenian production by means
of them it’s envisaged to organize 13 agitation campaigns in foreign
countries. Touching upon the issue of efficiency of Armenia-Diaspora
first economic forum held in 2003 autumn, V.Movsisian said that a
Pan-Armenian Commercial Network was established after the forum. An
attempt to provide constant information for all organizations of
Diasporan Armenian businessmen is made through the network. Canadian
and Iranian Armenian businessmen’s delegations visited Armenia after
the forum. 4 companies were founded in Armenia, the Iranian Armenians’
investment activity became rather active as a result of the Canadian
Armenian businessmen’s visit. Besides, a delegation of 15 Argentine
Armenian businessmen will visit Armenia in late April this year for
the purpose of discussing issues connected with making insvestments
in spheres of tourism, hotel building and agroprocessing. A visit of
80 Lebanese Armenians is expected in June, within the framework of
which a business forum will be organized in Yerevan.

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