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YERGHNYAN FINDS NOT SO AGGRESSIVE INVESTMENT POLICY AS ONE OF BIGGEST FAULTS IN ARMENIA'S ECONOMY
YEREVAN, September 4. /ARKA/. Not so vigorous investment policy is
one of the biggest faults in Armenia's economy, Manuk Yerghnyan,
head of the Economy and Values research center, said Wednesday in
Novosti International Press Center.
"I think the country should pursue more aggressive policy to attract
foreign investments, since this is one of mechanisms for restructuring
the economy and carrying out technological re-equipment," he said.
Yerghnyan also commented on the latest official statistical reports,
according to which $293 million has been invested into Armenia's
economy from the outside for the first six months of this year -
34.7% less than over the same period a year earlier, and direct
foreign investments amounted to $118.1 million in Jan-June 2013 -
64.2% year-on-year decline
"This is a structural problem that emerged five or six year ago,"
he said. "Investments consist of two components, of which the biggest
is reinvestment profit. In other words, reinvestments of profits of
companies which already operate in Armenia are considered as foreign
investments. This structure has created the following situation -
when large infrastructural projects are completed, decline emerges."
According to the National Statistical Service, Argentina was the
biggest investor into Armenian economy's real rector in Jan-June 2013.
It built up its investments 10.4 times in Jan-June 2013, compared with
the same period a year before, to $76.1 million. Direct investments
from Argentina grew 67.2% to $8.2 million.
Other largest investors in Armenia's economy were Russia, Canada,
Cyprus and France in Jan-June 2013. ---0---
- See more at:
http://arka.am/en/news/technology/yerghnyan_finds_not_so_aggressive_investment_polic y_as_one_of_biggest_faults_in_armenia_s_economy/#sthash.LdmQWFQu.dpuf
From: A. Papazian
YEREVAN, September 4. /ARKA/. Not so vigorous investment policy is
one of the biggest faults in Armenia's economy, Manuk Yerghnyan,
head of the Economy and Values research center, said Wednesday in
Novosti International Press Center.
"I think the country should pursue more aggressive policy to attract
foreign investments, since this is one of mechanisms for restructuring
the economy and carrying out technological re-equipment," he said.
Yerghnyan also commented on the latest official statistical reports,
according to which $293 million has been invested into Armenia's
economy from the outside for the first six months of this year -
34.7% less than over the same period a year earlier, and direct
foreign investments amounted to $118.1 million in Jan-June 2013 -
64.2% year-on-year decline
"This is a structural problem that emerged five or six year ago,"
he said. "Investments consist of two components, of which the biggest
is reinvestment profit. In other words, reinvestments of profits of
companies which already operate in Armenia are considered as foreign
investments. This structure has created the following situation -
when large infrastructural projects are completed, decline emerges."
According to the National Statistical Service, Argentina was the
biggest investor into Armenian economy's real rector in Jan-June 2013.
It built up its investments 10.4 times in Jan-June 2013, compared with
the same period a year before, to $76.1 million. Direct investments
from Argentina grew 67.2% to $8.2 million.
Other largest investors in Armenia's economy were Russia, Canada,
Cyprus and France in Jan-June 2013. ---0---
- See more at:
http://arka.am/en/news/technology/yerghnyan_finds_not_so_aggressive_investment_polic y_as_one_of_biggest_faults_in_armenia_s_economy/#sthash.LdmQWFQu.dpuf
From: A. Papazian