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

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  • 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
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