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Messenger.ge, Georgia
Thursday, September 20 , 2007, #179 (1446)
Russian business in Armenia not a bad thing, government says
By M. Alkhazashvili
(Translated by Diana Dundua)
Russian business expansion into Armenia should not be viewed as a
negative development, said the Armenian Minister of Trade and Economic
Development on September 17.
According to the news agency Regnum, Nerses Eritsian made the
statement after the Russian company MTC bought 80 percent of the
shares of Armenian telecommunications company VivaCell.
According to Eritsian, Russian capital in the Armenian should be seen
as stimulating local business development.
He added that to foreign investors, the Armenian market appears to be
small and inaccessible, and more of a regional investment target than
a global one.
He also said that while Europe's investment patterns are established,
Russian business is still developing and aggressively seeks out new
markets, especially in its former sphere of influence.
Thus, Armenia should accept Russian investment, but look to secure
foreign investment from elsewhere at the same time.
Thursday, September 20 , 2007, #179 (1446)
Russian business in Armenia not a bad thing, government says
By M. Alkhazashvili
(Translated by Diana Dundua)
Russian business expansion into Armenia should not be viewed as a
negative development, said the Armenian Minister of Trade and Economic
Development on September 17.
According to the news agency Regnum, Nerses Eritsian made the
statement after the Russian company MTC bought 80 percent of the
shares of Armenian telecommunications company VivaCell.
According to Eritsian, Russian capital in the Armenian should be seen
as stimulating local business development.
He added that to foreign investors, the Armenian market appears to be
small and inaccessible, and more of a regional investment target than
a global one.
He also said that while Europe's investment patterns are established,
Russian business is still developing and aggressively seeks out new
markets, especially in its former sphere of influence.
Thus, Armenia should accept Russian investment, but look to secure
foreign investment from elsewhere at the same time.