ArmInfo. The Business Armenia Foundation (formerly the Development Fund of Armenia) expects more than $ 35 million of investments in Armenia in 2018. The executive director of the Foundation Armen Avag Avagyan announced on July 10 during the Facebook live broadcast. Meanwhile, on March 27 2018, he said that in 2018 the organization intends to attract foreign investment in the amount of $ 46.8 million.
According to the head of the Fund, at the moment there is already an expectation of investments of $ 15.2 million. "That is, certain measures have been taken for these investments," he said.
Investments are distributed to light industry ($ 5.7 million.), perfume water production ($ 500 thousand.), cooking utensils and other equipment ($ 1 million.), oils and additives ($ 3 million.), mineral water ($ 5 million.). In the second half of 2018, the expected investment will be $ 20.2 million.
As for attracting investments to Armenia last year, $ 12 of $ 15 million was spent on the military industry. The remaining funds were allocated to the branches of jewelry, silver, light and food industries.
As Avagyan pointed, in 2017 $ 2 million 955 thousand was reinvested. Reinvestments were made in the field of pharmaceutics, agriculture and mineral waters.
According to the head of Business Armenia, they have close ties based on mutual trust with investors. The Fund respects the desire of investors to store any classified information. "We are interested about investors' vision for ten years, they should be able to openly and transparently talk to us, so that we can ensure an open and transparent service", he explained, adding that the ultimate aim of the Fund is the GDP growth due to foreign investments.
Two days ago, after the visit of the delegation headed by the Vice Prime Minister of Armenia Tigran Avinyan in the US and Canada, it was announced that a investment will total $ 30.5 million.
The Armenian Development Fund (Business Armenia Foundation) was established in 2015. In addition to its main mission to promote the economic growth of the country, the Fund carries out its activities with the aim of increasing the international rating, recognition and competitiveness of Armenia.
