ArmInfo.Russia remains one of the major investors in Armenia's economy, Yuliya Nersterchuk, Head of the Department for Economic Cooperation with CIS Countries, RF Ministry of Economic Development, stated at a meeting of the Armenian-Russian Business Council that discussed prospects for cooperation in the construction sector, in Yerevan, Armenia.
She pointed out high-level Russian-Armenian trade and economic relations. She emphasized active investment cooperation. "Russia remains one of the major investors in Armenia's economy. Russian investments in joint projects have to date totaled $3bln. Over 40 large Russian companies are operating in Armenia, and some of them are the largest taxpayers," Ms Nesterchuk said.
She pointed out rapid development of the construction sector both within the EAEU and in individual member-states.
"2022 saw a 5% increase in the construction work in all the member-countries as compared with 2021, with over 123mln sq. meters of housing put into service. And Armenia's construction market is recording a significant growth as well," Ms Nesterchuk said.
"Special attention is being paid to development of digital technologies. For example, the EAEU member- states are implementing projects to form an EAEU digital transport corridor ecosystem and digital technical control projects. The projects are aimed at developing user-friendly digital solutions to reduce cargo transportation and inspection time," she said.
One more field is creating favorable conditions for businesses. Since last October, Russia and Armenia have managed five barriers for the two countries' economic entities, Ms Nesterchuk said.
