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.