Foreign investment in Armenian economy up 12% in H1

Oct 12 2005
Interfax

YEREVAN. Oct 12 (Interfax) - Foreign investment in the Armenian economy in the first half of 2005 increased 11.6% year-on-year to amount to $139.6 million, a source in the National Statistics Committee told Interfax.

Foreign direct investment amounted to $78.9 million (up 4.5%), including foreign direct investment in communications - 45.4%, in the food industry - 15.5%, in air transport - 8.9%, in metallurgy - 7.1% and in the construction sector - 4.7%.

The main foreign investor in the Armenian economy in the first half was Greece - $58.3 million (up 40.3%). Lebanese investment amounted to $23.2 million (up 14.3-fold), and Russian - $13.5 million (down 44.8%). Total U.S. investment in the Armenian economy in January-June fell 38.5% year-on-year to $9.3 million, and investment from France fell by 36.2%, to $8.8 million.

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