RUSSIA INVESTED $3 BLN IN ARMENIAN ECONOMY OVER 20 YEARS- RF TRANSPORT MINISTER SOKOLOV
/ARKA/
12 October, 2012
YEREVAN
YEREVAN, October 12. /ARKA/. Russia has invested in Armenia’s
economy over $3 billion over the past 20 years, Russia’s Minister
of Transport, co-chairman of the Armenian-Russian intergovernmental
economic commission, Maxim Sokolov said Friday.
“Direct investments totaled nearly $2.5 billion,” he said following
the commission meeting.
The fact that these investments are of direct nature is of the utmost
importance, “in other words, they are injected into enterprises,
material and technical base, business development. They are not of
portfolio nature.”
Minister abstained from projecting total volume of investments at
2012’s out, noting that as of now it is early to make any forecasts.
“Investors, as a matter of fact, make plans depending on investments
and maximum concentration of resources by the end of the year,”
Sokolov said.
According to the National Statistical Service of Armenia, Russia’s
investments in real sector of Armenian economy slashed by 80.5% to
$40.3 million in Jan-June 2012 from the same period a year earlier
(excluding credits, obtained from state administration bodies and
banking sector).
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. 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.
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