Monday, October 8 2018 14:47

ArmInfo.As of October 8, Business Armenia (formerly called Development Fund of Armenia) did not have time to calculate how much investment was attracted in the  Armenian economy this year. "In the near future, a meeting of the  Board of Trustees of the Foundation will be held, during which the  results of the first three quarters will be summarized," Armen Avag  Avagyan, executive director of the Foundation, told ArmInfo.  Meanwhile, on July 10, during a Facebook broadcast, he said that in  2018 he expects more than $ 35 million in foreign investment.

According to Avag Avagian, at present, there is a count of realized  investments. Nevertheless, he hopes that the final figure will be  comparable to the stated figure.

When asked whether the parliamentary elections in Armenia could have  a negative impact on the expected investments, Armen Avakian  answered, referring to the elementary truth: "In any country where  elections are expected, there is a decline in economic activity.  Armenia is not isolated from the world, and it's logical that a  similar situation is noticeable. " At the same time, according to  him, in recent months there have been no cases in his practice when  an investor has postponed the implementation of a previously promised  investment program because of a political factor.

To recall, on July 8, during the Facebook connection of the direct  connection, the head of Business Armenia stated that there is already  an expectation of investments in the amount of $ 15.2 million. In  2017, investments in the amount of $ 12 out of $ 15 million were  directed to the military industry. The remaining funds were  distributed among the branches of the jewelry, light and food  industries. Another $ 2 million 955 thousand was reinvested in  pharmaceuticals, agriculture, and the production of mineral waters.  Two days earlier, following the visit of the delegation led by  Armenian Deputy Prime Minister Tigran Avinyan to the United States  and Canada, it was announced that the total investment would be $  30.5 million. The delegation at the Armenian consulate in Los Angeles  met with representatives of about two dozen American business  associations. As a result of the negotiations, preliminary agreements  were reached on cooperation between Armenian companies and  associations in a number of areas.

To recall, Business Armenia Fund, in addition to its main mission to  promote the economic growth of the country, carries out its  activities in order to improve the international rating, image and  competitiveness of Armenia. The organization will continue to direct  its efforts to attract foreign investment, while promoting exports,  improving the business environment, implementing regional development  projects and developing the tourism sector. The Business Armenia  Foundation will implement projects that provide for public- private  cooperation.