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As ADA Director Estimates, Diasporan Armenians' Investment Activity

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  • As ADA Director Estimates, Diasporan Armenians' Investment Activity

    AS ADA DIRECTOR ESTIMATES, DIASPORAN ARMENIANS' INVESTMENT ACTIVITY IN ARMENIA IS UNSATISFACTORY

    Noyan Tapan
    Armenians Today
    Mar 13 2006

    YEREVAN, MARCH 13, NOYAN TAPAN - ARMENIANS TODAY. Armenian Development
    Agency Director General Vahagn Movsisian estimated the Diasporan
    Armenians' investment activity in Armenia as unsatisfactory at the
    March 11 press conference.

    According to his information, 6 mln Diasporan Armenians live abroad
    in about 1.5 mln families, the property of each of them can amount to
    100 thousand USD. "We have an investments source valued 150 bln USD,
    and even 2-3% of this isn't used," V.Movsisian said. According to
    him, 300-400 big entrepreneurs having no bisiness connection with
    Armenia work in big foreign cities. For the purpose of promoting
    their investment activity and export of Armenian production by means
    of them it's envisaged to organize 13 agitation campaigns in foreign
    countries. Touching upon the issue of efficiency of Armenia-Diaspora
    first economic forum held in 2003 autumn, V.Movsisian said that a
    Pan-Armenian Commercial Network was established after the forum. An
    attempt to provide constant information for all organizations of
    Diasporan Armenian businessmen is made through the network. Canadian
    and Iranian Armenian businessmen's delegations visited Armenia after
    the forum. 4 companies were founded in Armenia, the Iranian Armenians'
    investment activity became rather active as a result of the Canadian
    Armenian businessmen's visit. Besides, a delegation of 15 Argentine
    Armenian businessmen will visit Armenia in late April this year for
    the purpose of discussing issues connected with making insvestments
    in spheres of tourism, hotel building and agroprocessing. A visit of
    80 Lebanese Armenians is expected in June, within the framework of
    which a business forum will be organized in Yerevan.
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