According to the 9-month results of 2019, foreign direct investment inflows were $268 million more than in 2018. The Minister of Economy of Armenia, Tigran Khachatryan, stated this in his press conference today summing up the results of 2019.
–
“On the other hand, there is another indicator, which is the ratio of gross accumulations to fixed assets; that is, how much the investments are in the year against the GDP. In this respect we will have about a 16% indicator,” he added. “The government has set a program target of no less than 25% indicator of GDP. In 2019 we will have approximately the same indicator as in 2017-2018, but the year 2020 will be a year summed up with a better investment indicator.”
He also noted that foreign direct investment was $60 million less than in 2018.
–
As to whether tensions in the region will affect investment, the minister responded. “We hope that tensions linked to Iran will be resolved very quickly, and the events will develop in such a way that they promise a reliable medium-term prospect not only for Armenia, but also for the region in general. But we believe that the factor you mentioned cannot be a significant obstacle from the viewpoint of making decisions about Armenia.”
–
Despite this, Khachatryan noted that trade to Iran will still not have the capacity its potential assumes for some time, but Armenia is a member of the EEU and presents a predictable environment for European investors.
–
H/T News.Am