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.
