ArmInfo. Within the upcoming two weeks an official announcement on establishment of an Investment Fund will be made, Armenia's Economy Minister Suren Karayan stated at the parliament today.
The Minister considers that due to events planned for 2017 it will be possible to raise investment attractiveness of Armenia. The government plans to reach this via making institutional reforms-creating investment funds, developing institute for investments protection and making tax reforms. For raising the investment attractiveness it is planned to ensure diversification of markets and to hold a large advertisement campaign in various countries of the world.
According to the Minister at first Armenia will be the main participant of the fund while its further operation will be ensured based on State-private sector cooperation. In future, the Fund will become a completely private structure. "As a result of the events held by the Armenian government growth of investments will be registered", Suren Karayan stated. At the same time he did not voice even rough amount of investments envisaged for the upcoming year.
To note, in 2015 1.2% real decline of capital investments was registered, while in 2016 2.3% growth of these investments is expected. However, according to the state budget draft of 2017 capital investments will decline by 2.2%. Net flow of direct foreign investments in 2015 dropped by 39.9%, according to forecasts in 2017 decline will slacken to 2.2%. The official statistics does not provide any numbers on inflow and outflow of foreign investments since 2014.
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