Time in Yerevan: 11:07:36,   22 November

Foreign investment net inflows grow, but government aims higher

Foreign investment net inflows grow, but government aims higher

YEREVAN, OCTOBER 14, ARMENPRESS. The net inflows of foreign investments grew by 253,000,000 drams in the first half of 2019 compared to the previous year’s same period, however the government is not satisfied with the indicator and the actions in all directions are aimed at increasing the appeal of doing business in Armenia, Minister of Economy Tigran Khachatryan told a news conference.

Based on the six months data he said he doesn’t think that a drop will be recorded during the second half of the year.

“And all our actions in all directions aim to raise the appeal of doing business, as a result to have higher investments than we had particularly during the last two years,” he said.

He said the government will utilize all levers to contribute to a higher mid-term economic growth. The minister noted that the basis for a higher economic growth is a higher economic potential which is developed as a result of making investments.

“We must have at least 23-25% investments against the GDP in order to guarantee an average of 8% higher economic growth and at least 28-30% investments against the GDP to ensure 10% GDP growth,” Khachatryan said.

Edited and translated by Stepan Kocharyan

 




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