ArmInfo.Armenia is not an ideal country, neither from the point of view of the judicial system, nor the legislative field, infrastructures, logistics, etc. and therefore, taking into account all these restrictions, we must form an attractive environment for investors. Armenia's Minister of Economy Vahan Kerobyan stated this during a briefing on August 18.
In particular, the minister noted that certain successes have been achieved in this regard, since the inflow of investments to Armenia is increasing. Kerobyan refused to voice specific indicators on the growth of investments in the country's economy, noting that in a week, official data proving this will be presented without fail.
"You see that the Armenian economy is growing faster than the forecasts, from international organizations to the Central Bank and the government of the country. This indicates that investments, including domestic ones, are going well, providing economic performance higher than expected, "he stressed.
To recall,, according to the Statistical Committee of the Republic of Armenia, the volume of total foreign investments (all types and forms of investments - Ed. note) in the real sector of the Armenian economy in January-December 2020, compared to the same period of 2019, decreased by 39% (against 19% growth 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% (versus 20% a year earlier) or $ 466 million, which is 21% lower than in 2019 (versus a 2% decline a year earlier). According to statistics, the TOP-3 countries by the volume of total foreign investments have not changed. Thus, Russia holds the lead in January-December 2020, both in terms of the total volume of investments - $ 674.4 million (with a change of the y-o-y dynamics from 4.3% growth to 34% decline), and in terms of the volume of FDI - $ 350.2 million ( with the acceleration of the y-o-y decline from 7.6% to 9.3%). Germany ranks second in terms of total investment - $ 601.8 million (with a deterioration in y-oy dynamics from 17% growth to 12.1% decline), of which $ 23.4 million is FDI (with a change of y-o-y dynamics from 51.1% decline to 13.2% growth). And the top three is closed by Cyprus, from 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 volume of total foreign investment, the share of Russia accounted for 37.4% in 12 months of 2020, Germany - 33.4%, Cyprus - 6.1%, and in the total FDI volume, the share of these countries is respectively 75.1%, 5% and 4%. A year earlier, for 12 months of 2019, the share of Russia accounted for 34.3% of total foreign investment, Germany - 23.1%, Cyprus - 2.6%, and the share of these countries in total FDI was 65.2%, 3.5% and 4.4%, respectively.
