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INTERNATIONAL FORUM IN YEREVAN LOOKS INTO ARMENIA'S INVESTMENT CLIMATE AND BUSINESS DOING OPPORTUNITIES
YEREVAN, March 5. / ARKA /. Participants of an international
investment forum in Yerevan organized as part of regional investment
and trade facilitation project East Invest, looked today into Armenia's
investment climate and business doing opportunities.
Araik Vardanyan, the executive director of Armenia's Commerce and
Industry Chamber, recalled that Russia is the largest investor
in Armenia, followed by France that mainly invests in the
telecommunications sector and production of alcoholic beverages.
France is followed by the Netherlands that promotes greatly
implementation of an array of various projects. The Dutch are followed
by Germany and Argentina. The latter is a major investor in Armenia's
transport and agriculture sectors.
Speaking about Armenia's upcoming accession to the Customs Union,
Vardanyan downplayed what he described as 'unfounded fears' that
Armenia may reduce its traditional trade and economic relations with
the European states.
Deputy economy minister Tigran Harutyunyan said the level of foreign
investments in Armenia is still below the 2008 pre-crisis level. He
said as of last September, EU's overall investments in Armenia stood
at $2.5 billion.
He said Armenia's membership in the Customs Union should make the
country more attractive for foreign investors because of providing
them with direct access to the 170 million market.
According to Ludowik Sichanowski, head of trade and private sector
unit of the EU delegation in Armenia, the EU emphasizes business and
investment climate in Eastern Neighborhood countries.
Accoridng to official data, total foreign investment in Armenia's
real sector of the economy in the first nine months of 2013 slashed
by almost 32 percent year-on-year to $395.6 million.
East Invest is a regional investment and trade facilitation project for
the economic development of the Eastern Neighborhood region, launched
in the framework of the European Eastern Partnership initiative.
It targets business support organizations and SMEs from the 6 Eastern
Partnership countries (Armenia, Azerbaijan, Belarus, Georgia, Moldova
and Ukraine), who have potential for developing mutual cooperation
and investment relations with the European Union. -0-
- See more at:
http://arka.am/en/news/economy/international_forum_in_yerevan_looks_into_armenia_ s_investment_climate_and_business_doing_opportunit/#sthash.vLY5jZRW.dpuf
YEREVAN, March 5. / ARKA /. Participants of an international
investment forum in Yerevan organized as part of regional investment
and trade facilitation project East Invest, looked today into Armenia's
investment climate and business doing opportunities.
Araik Vardanyan, the executive director of Armenia's Commerce and
Industry Chamber, recalled that Russia is the largest investor
in Armenia, followed by France that mainly invests in the
telecommunications sector and production of alcoholic beverages.
France is followed by the Netherlands that promotes greatly
implementation of an array of various projects. The Dutch are followed
by Germany and Argentina. The latter is a major investor in Armenia's
transport and agriculture sectors.
Speaking about Armenia's upcoming accession to the Customs Union,
Vardanyan downplayed what he described as 'unfounded fears' that
Armenia may reduce its traditional trade and economic relations with
the European states.
Deputy economy minister Tigran Harutyunyan said the level of foreign
investments in Armenia is still below the 2008 pre-crisis level. He
said as of last September, EU's overall investments in Armenia stood
at $2.5 billion.
He said Armenia's membership in the Customs Union should make the
country more attractive for foreign investors because of providing
them with direct access to the 170 million market.
According to Ludowik Sichanowski, head of trade and private sector
unit of the EU delegation in Armenia, the EU emphasizes business and
investment climate in Eastern Neighborhood countries.
Accoridng to official data, total foreign investment in Armenia's
real sector of the economy in the first nine months of 2013 slashed
by almost 32 percent year-on-year to $395.6 million.
East Invest is a regional investment and trade facilitation project for
the economic development of the Eastern Neighborhood region, launched
in the framework of the European Eastern Partnership initiative.
It targets business support organizations and SMEs from the 6 Eastern
Partnership countries (Armenia, Azerbaijan, Belarus, Georgia, Moldova
and Ukraine), who have potential for developing mutual cooperation
and investment relations with the European Union. -0-
- See more at:
http://arka.am/en/news/economy/international_forum_in_yerevan_looks_into_armenia_ s_investment_climate_and_business_doing_opportunit/#sthash.vLY5jZRW.dpuf