FOREIGN INVESTMENT IN ARMENIAN ECONOMY SOARS 57% IN Q1
Interfax News Agency
Russia & CIS Financial Newswire
June 1, 2006 Thursday
Most investment – $47.6 million-went to the communications sector,
including $14 million in direct foreign investment. There was total
direct foreign investment of $12.3 million in the mining sector.
The main foreign investor in the Armenian economy in the first quarter
was Lebanon at $26.9 million, up 18.6-fold. Specialists at the Trade
and Economic Development Ministry tied this to increased activity by
No. 2 cellular provider K-Telecom (the VivaCell trademark), which is
part of Lebanese investment group Fatush Group.
Greece invested $21.1 million in the economy, down 44.7%. This was
due to ArmenTel activity, in which Greece’s OTE owns 90%.
Russia invested $9.3 million, up 380%, including $1.5 million in
direct foreign investment, up 310%.
Disclaimer: This article was contributed and translated into English by Chakrian Hovsep. 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/2006/06/02/foreign-investment-in-armenian-economy-soars-57-in-q1/