Business Armenia plans to attract investments of over $ 35 million in  2018

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.