Time in Yerevan: 11:07:36,   21 September

376 mln USD investment programs implemented in Armenia in January-August 2017


YEREVAN, SEPTEMBER 13, ARMENPRESS. Armenia’s government presented a brief report on results recorded in selected fields in the period from September 1, 2016 to August 30, 2017, reports Armenpress.

According to the report, based on the results of 8 months of 2017, the performance of investment programs through the finance of state and community budget, loan programs and private sector comprised over 376 million USD. In the first half of 2017 the volume of foreign investments inflow in a real sector of economy amounted to over 1.024 million USD, including, the direct investments – 328 million USD (increase by 36.6% and 26.3% respectively compared to the same period of 2016).

The government has predicted 834 million USD investment programs for 2017, but for the reporting period the performance was 45%. The report says that Megrhi free economic zone CJSC has been established, Investors Club of Armenia has been formed by the resources of which 2 programs have launched with over 250 million USD investment. Customs duty exemption privileges have been set for 28 out of investment programs received from the private sector, and VAT delay privileges have been provided for 19 investment programs.

Investment promotion and investors service system through ‘one-window’ principle has been installed. A new law on foreign investments aimed at protecting investments and increasing trust level has been developed, the institute of re-deployment has been established which will ensure entry and registration of 5-10 new foreign companies in Armenia.

Performance of ongoing investment programs in Armenia according to sectors

Sector                                           2017 performance prediction     Performance of 8 months of 2017   %

Labor and social field

$4,665,318

$1,800,000

39%

Healthcare

$41,792,371

$18,700,000

45%

Justice

$4,729,252

$2,500,000

53%

Nature protection

$4,126,624

$1,400,000

34%

Agriculture

$101,280,000

$22,614,000

22%

Energy and natural resources

$220,235,708

$155,388,141

71%

Public procurement management

$21,523,370

$582,500

3%

State revenues

$7,795,914

$3,200,000

41%

Urban development

$111,502,646

$31,980,000

29%

Civil aviation

$1,000,000

$349,720

35%

Education and science

$18,958,455

$6,650,000

35%

Culture

$1,762,000

$75,300

4%

Sports and youth affairs

$7,135,016

$1,500,000

21%

Territorial administration and development

$79,190,679

$45,070,000

57%

Economic development and investments

$88,870,134

$42,069,000

47%

Transport, communication and IT

$119,535,368

$42,040,000

35%

TOTAL

$834,102,855

$375,918,661

45%

The table includes the investment programs being carried out by various agencies through loans or grants, public-private sector cooperation, as well as those private investment programs that have received tax, customs and other privileges by the state. Several investment programs being carried out by the private sector at the moment are not included in the table.

 



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