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French Investments In Armenia's Economy Reach $685 Million

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  • French Investments In Armenia's Economy Reach $685 Million

    FRENCH INVESTMENTS IN ARMENIA'S ECONOMY REACH $685 MILLION

    ARKA
    Sep 29, 2011

    YEREVAN, September 29. /ARKA/. French investments in Armenia's
    economy reached $685 million in July 2011, Armenian President Serzh
    Sargsyan said Thursday during a breakfast with Armenian and French
    entrepreneurs, the president's press office reports.

    He said that Armenia attaches importance to trade and economic
    relations with France, which is the second largest investor in
    Armenia's economy.

    The head of state said that 155 Armenian-French joint ventures operate
    in telecommunication, drink-producing, banking, pharmaceutical,
    healthcare, tourism, agricultural and light industry sectors in
    Armenia.

    He singled out some of them - Credit Agricole Bank, Orange,
    Pernod Ricard, Alcatel and Grand Thornton Amyot - saying they set
    a classical example of successful investments. Sargsyan said that
    necessary legislative groundwork is already laid for development of
    these relations.

    Sargsyan said that despite particular achievements, Armenia and
    France still have plenty to do to use capacity for cooperation to
    its full extent.

    He voiced regret at the fact that France is not among Armenia's top
    ten trade and economic partners. He finds it inadmissible, given the
    present level of cooperation between the two countries.

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