Russia’s Investments In Armenian Economy Contract By 0.3% To $191.3

RUSSIA’S INVESTMENTS IN ARMENIAN ECONOMY CONTRACT BY 0.3% TO $191.3 MILLION IN JAN-SEPT 2010

ARKA
December 6, 2010
YEREVAN

Russia invested $191.3 million in Armenia’s economy over the period
between January and September 2010, National Statistical Service of
Armenia reports.

Of this amount, direct investments totaled $148.1 million.

Russia’s investments accounted for 40.5% and its direct investments
for 42.5% of total foreign investments in Armenia’s real sector.

Investments from Russia shrank by 0.3%, while direct investments grew
21.3% in Jan-Sept 2010, compared with the same period a year earlier.

Russia is Armenia’s largest investor this year.

According to the statistical report, 52.4% of Russian investments
($100.3 million) were targeted for production and distribution of
electric energy, gas, hot water and steam, 27.6% ($52.9 million)
for telecommunication area, 12.2% ($23.3 million) for land transport
and transportations via pipelines.

Russia also invested $7.5 million in metallurgy, $3.3 million in
construction and $1.6 million in financial mediation services less
insurance and pension security.

In Jan-Sept 2010, foreign investments in Armenia’s economy totaled
$472.2 million, of which $348.7 million were direct investments in
the real sector. ($1= AMD 360.06).

From: A. Papazian