RUSSIAN INVESTMENTS TO ARMENIA IN JANUARY-MARCH 2011 SLASH BY 55.7%

/ ARKA /
June 23
YEREVAN

Russian investments to Armenia in January-March 2011 slashed by 55.7%
year-on-year to $23 million. Of that amount $14 million were direct
investments which contracted by 67%, according to the numbers released
today by the National Statistic Service.

According to the data, Russia accounted for 17.6% of total foreign
investment in Armenian real sector and for 14.9% of direct investment.

In terms of total investments, as well as in terms of largest direct
investments Russia ranked second after France, which invested $37.7
million in the reporting period of time.

Some 34.9% of Russian investments ($8.046 million) were channeled
into the production and distribution of electricity, gas, hot water
and steam, 24.8% into production of basic metals, ($5.721 million).

Russian investments went also to telecommunications -18.9%- ($4.356
million) and construction -3.7%- ($853,000) The total volume of
foreign investments in Armenia in January-March 2011 amounted to
approximately $130.6 million, of which $93.7 million were direct
investments in real sector.