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Russia may invest $1B in Armenian economy in future
ECONOMY
19.10.2021 | 17:02
Russia intends to invest $ 1 billion in Armenia’s economy in the near future, TASS reported, quoting Russian Deputy Minister of Economic Development Dmitry Volvach during the 8th Armenian-Russian inter-regional forum.
“In 2021, the mutual trade turnover is not bad, we have a 17% growth. And this is in the case that we had a 4% decline in the epidemic year. Investment cooperation is growing in our country. There are more than $2.2 billion in joint investments from Russia to Armenia. We know that there are clear programs worth more than one billion dollars, which will soon be invested in the Armenian economy,” he said.
He added that those will be a serious contribution to the economic, social and cultural relations between Russia and Armenia, to the creation of new technological jobs.
“According to statistics, 40% of foreign investments in the Republic of Armenia are currently from the Russian Federation. It seems to me that it is logical that this share should at least be maintained. It is clear that there are investments from other countries and other partners, but I hope that Russia and Russian business will maintain their role and significance in the Armenian economy,” he said.
