Russian investments in Armenian economy in Jan.-July grew to $116.9 million

Yerevan, September 2, /ARKA/. In the first seven months of this year Russian companies invested a total of $116.9 million in Armenian economy, including $85.8 million of direct investments.

According to the latest data, released by the National Statistical Services, Russian investments accounted for 35.7% of all foreign investments in Armenia’s real economy sector and for 38.9% of all direct investments. Compared with the first seven months of 2009 Russian investments grew by 56.7% and direct investments by 51%.

In both terms Russia was the leading investors in Armenian economy. The bulk of Russian investments- 60.11%- ($70.3 million ) were directed to production and distribution of electrical power, gas, hot water and steam; 30.8% ($36 million) were invested in telecommunications; 4.46% ($5.2 million) in production of base metals.

Russian companies also invested $2.2 million in construction, $1.3 million in financial mediation services except for insurance and pension security and $538,000 in professional, research and technical activities.

Overall foreign investments in Armenian economy in Jan.-July 2010 reached $327.5 million, of which $220.3 million were direct investments in real economy sector. ($1- 363.74 Drams).