ArmInfo. Drop of flow of foreign investments in Armenia in recent 2-3 years is caused by both internal and external factors, Deputy Minister of Economic Development and Investments of Armenia Emil Tarasyan told journalists on October 13 after the government's session.
According to him negative trend of foreign investments is partly determined by external factors, such as closure of Lars border checkpoint and Azerbaijan's military aggression during the April war. Recent political developments inside the country also played significant role in reduction of direct inflow of foreign investments and foreign trade turnover.
At the same time the Deputy Minister noted that this does not mean that Armenian government's exerted efforts on improving investment climate should be given up. "There are still expectations related to attracting foreign investments and they remain high, as the work that has been done to attract investments and boost export should finally giver results", the Deputy Minister said.
To note, this year the share of foreign investments in Armenia declined to 1.7% from the GDP. According to the National Statistical Service of Armenia net flow of investments from the USA into real sector of Armenia's economy totaled 564.2 mln drams as of July 1 2016 (H1). The US investments were mainly made into IT field, financial intermediation, tourism and energy. In overall net flow of investments into real sector of Armenia's economy was negative by July 1 2016 -16.9 bln drams, net flow of FDI is positive-16.6 bln drams (versus positive 81.9 bln drams and 30.7 bln drams a year before). To note, for already two years due to revision of methodology of investments calculation the statistical data does not provide absolute values of inflow and outflow, mentioning only amount of balance of these two figures-net flow of investments.
