ArmInfo. In Armenia, there are no problems with attracting investors, we have a problem with organizing proper work with them. This was stated by the Minister of Economy of the Republic of Armenia Vahan Kerobyan in an interview with the First TV Channel of Armenia.
In this context, the minister, referring to the voiced opinions of a number of investors, said that to his surprise, the latter do not consider Armenia as a country with a conflict, for them the conflict has long been exhausted, and the level of risk has been reduced accordingly. At the same time, he added that there is interest in Armenia from Russian, European, and Iranian companies.
Continuing the topic of investors, Kerobyan said that tomorrow the Ministry plans to hold a meeting with 15 major investors who stopped or froze their projects in Armenia after the 2018 revolution.
It should be noted that according to the RA State Committee, the volume of total foreign investment (all types and forms of investment - Ed.) in the real sector of the Armenian economy in January-December 2020 decreased by 39% compared to the same period in 2019 (against a 19% increase a year earlier), amounting to $ 1.8 billion in 2020.
The share of FDI in total foreign investment in January-December 2020 accounted for 26% (against 20% a year earlier) or $466 million, which is lower than in 2019 by 21% (against a 2% decline a year earlier). According to the statistics, the breakdown by TOP-3 countries in terms of total foreign investment has not changed. Thus, Russia holds the lead in January-December 2020, both in terms of total investment - $674.4 million (with a reversal of the annual dynamics from 4.3% growth to 34% decline), and in terms of FDI - $350.2 million (with an acceleration of the annual decline from 7.6% to 9.3%). The second position in terms of total investment is occupied by Germany - $601.8 million (with a deterioration in the annual dynamics from 17% growth to 12.1% decline), of which $23.4 million is FDI (with an exit of the annual dynamics from the 51.1% decline to 13.2% growth). And the top three is completed by Cyprus, where the total volume of investments increased by 44.3% per annum-to $109.2 million, with a decline in FDI by 29% - to $18.7 million, while a year earlier the decline in total volume by 12% was accompanied by an increase in FDI by 16.1%.
In the total volume of foreign investment, Russia accounted for 37.4% in the 12 months of 2020, Germany-33.4%, Cyprus-6.1%, and in the total volume of FDI, the share of these countries is 75.1%, 5% and 4%, respectively. A year earlier, in the 12 months of 2019, Russia accounted for 34.3% of total foreign investment, Germany-23.1%, and Cyprus - 2.6%, and in the volume of total FDI, the share of these countries was 65.2%, 3.5% and 4.4%, respectively.
