Suren Karayan: Investments of the "Investors Club of Armenia" will amount to $ 300 million in 2017

ArmInfo. In 2017 investments of the  Fund "Investors Club of Armenia" will amount $ 300 million, from the  investments promised by the government in the amount of $ 850  million, the Minister of Economic Development and Investments of  Armenia Suren Karayan said on April 13 after the meeting of the  government.

As for sources of financing of investment projects, as Karayan  reminded, in Armenia, on March 25, the non-public contractual  investment fund "Investors Club of Armenia" started work with the  participation of the Prime Minister of Armenia Karen Karapetyan and  more than three dozens of entrepreneurs from the Armenian Diaspora of  Russia. "Today, the Government of Armenia approved the signing of a  memorandum with the investment Fund "Investors Club of Armenia" in  order to jointly implement strategic programs. Within the framework  of cooperation, the priority programs of the government will be  financed by the Club in the amount of $ 300 million," the head of the  Ministry of Economy explained. Investment projects are likely to be  implemented again in the energy and processing industries.

Besides the expected investments from the members of the "Investors  Club of Armenia" there are numerous investors who expressed a desire  to invest in the Armenian economy. "Geography is very diverse - it is  Armenians from Russian and not only, but also investors of other  nationalities," Suren Karayan said. In the next 2-3 years it is  expected to attract $ 3.2 billion. In general, investments will be  directed to the energy, mining, light and processing industries and  pharmaceuticals. According to him, some investment programs are  already under implementation. At the same time, as the minister  noted, he expects that investments will exceed the previously,  announced by the government, volume of $ 3.2 billion.

Answering to the question, whether the Ministry is ready for  negotiations with investors within the promises of Tsarukyan Bloc  leader  to invest $ 15 billion, Karayan said: "We are ready to work  with any investor regardless of political affiliation."

To recall, in February 2017, Prime Minister of Armenia Karen  Karapetyan announced the possibility of attracting investments of $  3.2 billion in the coming years. Of these, 830 - 840 million are  expected this year. Recently, the country's Ministry of Finance  reduced these investment expectations to $ 450 million. In 9 months  of 2016, foreign direct investments in Armenia amounted to only $ 92  million. Meanwhile, the government of the country in 2017 forecasts  an economic growth by 3.9% with an upward trend in 2018 and in 2019  by 4% and 4.1% respectively. The IMF forecast is more modest - 2.9%.

"Armenian Investors Club" is the first non-public contractual  investment fund in Armenia registered by the Central Bank. The goal  is to promote the development of such important economic spheres as  energy, including the production of alternative energy, energy and  tourism infrastructures, mining industry, food and light industry  with the involvement of internal and external private financial  means. The fund, managed by Fora Capital LLC, will operate with the  participation of new and existing companies' capital, investing in  securities, real estate, providing financing.