$108 Million Foreign Investment in Armenia Last Year

YEREVAN (Noyan Tapan)–The volume of foreign investment made in Armenia in 1997 was estimated at $108 million–announced Sevak Hovhannissian–a senior expert for the Department on Investment Policy Development and Export of the Ministry of Industry and Trade of Armenia–Monday.

According to UNCTAD–these volumes made up $33.8 million dollars in 1996–however–officials of the previous government alleged the year’s investmen’s were up to $60 million.

Hovhannissian pointed out that enterprises had made no concrete evaluations of foreign investment volumes–while authorized capital was fixed only at the moment of registration with the State Register. The World Bank–the International Monetary Fund and the Central Bank of Armenia had estimated the volumes to have reached $70 million last year. However–the Ministry’s data show that today’s volumes of investment have reached $108 million.

The State Statistics Department of Armenia’says the information on foreign investment in 1997 will be ready by late March.

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