Foreign investments rise in Armenia

YEREVAN, DECEMBER 24, ARMENPRESS. The volume of foreign investments rose in Armenia during the passing year. Head of InvestmentPolicyDepartmentatMinistry of Economyof Armenia Vahagn Lalayan told about this in a press-conference at “Armenpress” media hall. During the period of January-September of the current year net inflows of foreign investment formed 296 million USD, which is an increase of 80 million USD compared to the same period of last year. The main investor countries are Switzerland, Germany, Luxembourg, Argentina, the United Arab Emirates, France and so on. Investments of these countries are directed to different sectors, mainly to mining industry, energy, processed Industry, retail and wholesale trade, information and communication, agriculture.

“ConceptonInvestmentPolicy of theRepublic of Armeniawas first introduced in 2015. There has not been a general and comprehensive document since the years of independence and we filled that gap. We not only adopted that concept outlining the directions, but also determined the action plan. It is planned to particularly improve the investment environment and take measures to foster investments”, Vahagn Lalayan said.

“Meridian”free trade zone was launched in the current year, investments worth nearly 14 million USD were made and 20 new jobs were created. Investment of 17 million USD is expected which will create 160 new jobs.