Interfax, Russia
June 2 2011
Foreign investment in Armenian economy falls 19.5% in Q1
YEREVAN. June 2
The flow of foreign investment into the economy of Armenia contracted
by 19.5% year-on-year to $130.6 million in the first quarter of this
year, the National Statistics Service reported.
Direct foreign investment was down 19.9% at $93.7 million.
Telecommunications received the largest proportion of foreign
investments during the reporting period – $41.9 million (or 32% of all
foreign investments) and of direct foreign investments – $40.2 million
(42.9% of all direct foreign investments). Air transport absorbed
$20.2 million in foreign investments (15.5%) and $1 million in direct
foreign investment. The mining industry and pit mining got $12.1
million in direct foreign investment.
The top three investors in the Armenian economy were France – $37.7
million in direct foreign investment (up 11.9%), Russia – $23 million
(down 55.7%), and Britain – $21.7 million (up 9.6-fold).
Investment from Russia was mainly aimed at energy and
gas-distribution, the production of supporting metal constructions,
telecommunications, and also home-building. Investment from France
went mainly to telecommunications and the production of beverages.
Cf