Prime Minister ties direct investment growth with economy-class apartment building

YEREVAN, DECEMBER 27, ARMENPRESS. The decline in the volume of direct investments in the Republic of Armenia is connected with the burst of “bubble” in construction sector. To activate construction it is necessary to direct the savings of citizens to economy-class apartment building. The Prime Minister of the Republic of Armenia Tigran Sargsyan stated this at the course of this year’s final press conference convoked on December 27. “The volume of foreign direct investments had sustained declining trend during the last 5 years and this is a serious problem with which we are concerned. Number one problem that we have to solve regards construction,” the Prime Minister said as reported by “Armenpress”. Tigran Sargsyan added that the majority of direct investments were towards the construction sector in the past.

Tigran Sargsyan pointed out the large-scale investments carried out in Information area which affected the specific weight of the investments. “If we take them away, the main issues are upon the investments of construction sector, construction investments carried out by the private sector, which have significantly decreased today and this is the reason why specific weight of construction sector has decreased twice in the gross inner result during the post-crisis process,” the Prime Minister clarified.