FOREIGN DIRECT INVESTMENT IN ARMENIA PLUMMETS 60% IN H1
Interfax
Sept 3 2012
Russia
Foreign direct investment (FDI) in Armenia plummeted 59.7% year-on-year
in H1 2012 to $147.5 million, the National Statistics Service said.
Overall foreign investment was down 39.4% to $266.1 million.
Canada was the biggest investor with $82 million, up 5.7-fold
year-on-year. All this investment went into mining.
Russian investment fell 80.5% to $40.3 million, including $38.3
million direct investment, down 80.2%. Of the direct investment,
$23.8 million went into telecommunications and $11.3 million into
energy and gas supply. The rest was invested in housing construction,
real estate, catering, mining, wholesale and research and development.
Investment by Switzerland jumped 4.1-fold to $26.3 million, of which
direct investment 75-fold to $25.3 million. The mining industry
received $25.4 million and retail trade the rest.
Direct investment by France rose 64.8% to $24 million, with $17.1
million in telecoms and the rest in beverage production.
Foreign investment in Armenia rose 6.3% in 2011 to $1.65 billion,
including $813.3 million in FDI, up 15.1%.
Disclaimer: This article was contributed and translated into English by Badalian Vardan. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
Direct link to this article: https://www.armenianclub.com/2012/09/06/foreign-direct-investment-in-armenia-plummets-60-in-h1/