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Diaspora Armenians Invest Less Than Expected

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  • Diaspora Armenians Invest Less Than Expected

    DIASPORA ARMENIANS INVEST LESS THAN EXPECTED

    Armenpress

    YEREVAN, SEPTEMBER 20, ARMENPRESS: Manuk Hergnyan, an expert from
    an economic think-tank, called Economy and Values, told the third
    Armenia-Diaspora Conference in Yerevan yesterday that the share of
    Armenian Diaspora investments in Armenia's economy between 1994-2004
    made only 25 percent or only $260 million in terms of money.

    Hergnyan said Armenian authorities managed to attract the bulk of
    investments, about 40 percent, through infrastructure development
    programs. He said these investments were made by non-Armenians.

    But along with this Diaspora Armenians make 70 percent of all direct
    foreign investors. So, in terms of numbers, Diaspora Armenians exceed
    all other investors. Hergnyan said an average investment made here
    by a Diaspora Armenian businessmen is between $150,000-$200,000. This
    means, the expert said, that Diaspora Armenians do not invest heavily
    in the ancestors' land.
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