Armenian Government Requires Investment Projects Data

ArmInfo. All the state entities  should present t all actual investment projects data to the  Government in one month term, and since than regularly submit  quarterly implementation reports,  Karen Karapetyan,  Armenian Prime  Minister,  voiced an instruction at the Government session on  November 18. 

As Prime Minister mentioned, an appropriate platform for submitting  investment projects is established under the Ministry of Economic   Development and Investments, and the submission model with the names  and addresses of responsible persons. " We invite  to cooperate all   the potential partners, having investment projects, and ask them to  submit  those to the Ministry of Economy, " Prime Minister stated. 

 The Prime Minister instructed governors and state entities leaders  to submit in one moth term both  public and private investment  projects. At that, Prime Minister stated that exactly during that one  month all the efforts should be consolidated  to present a "serious  data." The Ministry bears a liability to present quarterly  implementation  reports. According to the Minister, this work will be  implemented on a permanent basis. "We also had and will have  opportunities to attract additional funds to support the business. We  need projects, that will give maximum effect and will help finding  financial sources," the Government Head resumed. 

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.