ArmInfo. The United Kingdom and Armenia are considering the possibility of creating a joint training center for the retraining of energy specialists. This was stated during the meeting of the Minister of Energy and Natural Resources of Armenia Ashot Manukyan with the Commissioner for Trade and Investment of Great Britain in Armenia and Georgia Mark Prechard and the Ambassador Extraordinary and Plenipotentiary of Great Britain to Armenia Judith Farnworth. This was reported by the press service of the department.
Manukyan noted that the Ministry plans to achieve exceptional transparency in the mining sector in the next 1-2 years. In addition, regarding the Armenian-British partnership in the energy sector, he expressed confidence that cooperation will develop and expand.
Ambassador Farnworth, noted that the British government is ready to deepen economic cooperation with Armenia and ensure investment. Speaking about Armenia's membership in the Extractive Industries Transparency Initiative, it was noted that cooperation with the British Embassy will help ensure that Armenia, having passed the international ratification process in 2019, could be recognized as a country that meets the standards of the initiative.
According to the source, during the meeting, the programs for the construction of the solar photovoltaic station Masrik-1 and Shnokh hydroelectric power station were presented. The sides expressed readiness to increase the effectiveness of cooperation in the energy sector.
According to the National Statistical Service of Armenia, the gross inflow of investments from Great Britain into the real sector of the Armenian economy amounted to 261.1 billion drams or $ 545.7 million (an annual growth of 41.8%) by October 1, 2017, out of which FDI - 94.7 billion drams or $ 197.8 million (annual growth of 2.6%). After deduction of repayments, the flow of investments from Great Britain amounted to 85.6 billion drams or $ 178.9 million at the same date (annual decline by 31.1%), out of which FDI - 52.8 billion drams or $ 110.5 million (annual decline of 42.2%).