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FOREIGN INVESTMENT IN ARMENIAN ECONOMY SOARS 57% IN Q1
Interfax News Agency
Russia & CIS Financial Newswire
June 1, 2006 Thursday
Most investment - $47.6 million-went to the communications sector,
including $14 million in direct foreign investment. There was total
direct foreign investment of $12.3 million in the mining sector.
The main foreign investor in the Armenian economy in the first quarter
was Lebanon at $26.9 million, up 18.6-fold. Specialists at the Trade
and Economic Development Ministry tied this to increased activity by
No. 2 cellular provider K-Telecom (the VivaCell trademark), which is
part of Lebanese investment group Fatush Group.
Greece invested $21.1 million in the economy, down 44.7%. This was
due to ArmenTel activity, in which Greece's OTE owns 90%.
Russia invested $9.3 million, up 380%, including $1.5 million in
direct foreign investment, up 310%.
Interfax News Agency
Russia & CIS Financial Newswire
June 1, 2006 Thursday
Most investment - $47.6 million-went to the communications sector,
including $14 million in direct foreign investment. There was total
direct foreign investment of $12.3 million in the mining sector.
The main foreign investor in the Armenian economy in the first quarter
was Lebanon at $26.9 million, up 18.6-fold. Specialists at the Trade
and Economic Development Ministry tied this to increased activity by
No. 2 cellular provider K-Telecom (the VivaCell trademark), which is
part of Lebanese investment group Fatush Group.
Greece invested $21.1 million in the economy, down 44.7%. This was
due to ArmenTel activity, in which Greece's OTE owns 90%.
Russia invested $9.3 million, up 380%, including $1.5 million in
direct foreign investment, up 310%.