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Russian businessmen interested in large-scale investments in Armenia

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  • Russian businessmen interested in large-scale investments in Armenia

    ARKA News Agency, Azerbaijan
    Nov 10 2006


    RUSSIAN BUSINESSMEN INTERESTED IN LARGE-SCALE INVESTMENTS IN ARMENIA

    YEREVAN, November 9. /ARKA/. Russian businessmen are interested in
    large-scale investments in Armenia, President of the Union of
    Jewelers of Armenia Gagik Abramyan told reporters.
    "Russian businessmen, irrespective of their nationality, have
    recently been greatly interested in making investments in Armenia,"
    he said.
    He said that many Russian companies intend to implement investment
    programs in Armenia.
    In his turn, President of the MIKA Armenia Trading Mikhail Bagdasarov
    pointed out that Russian businessmen are interested in expanding
    their business throughout the CIS now.
    "Russia is the richest country in the post-Soviet area, and Russian
    business has extremely intensified its activities in Belarus,
    Ukraine, Armenia, Uzbekistan and even in Georgia," he said.
    The RA Statistical Service reports that Russian investments in
    Armenia totaled $19,220.9ths in January-June 2006 - a 41.9% increase
    compared to the corresponding period of last year.
    A total of $11,679.5ths (60.76%) of Russian investments were directed
    to the metallurgical industry, $2,963ths to the recreation sphere,
    $1,318.5ths to private services, $1,335ths to production and
    distribution of electric power, gas, water and steam, $853.9ths to
    computer-related activities, $861.2ths to trade (except trade in cars
    and scooters), and $192.7ths to other sectors of mining industry.
    In January-June 2006, Russia made the third largest investments in
    Armenia's economy after Lebanon and Greece.
    A total of 589 enterprises with Russian capital are currently
    registered in Armenia, about 300 of them actively working. P.T. -0--
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