Direct Foreign Investmen’s in Armenia from 1988 98 Totals $385 Million

YEREVAN (Noyan Tapan). Direct foreign investmen’s totaled $8.65 million in the first quarter of 1999 whereas the index for the corresponding period of 1998 was $84.5 million–including $61.9 million obtained from privatization. Taxes raised from state government bodies decreased twofold against last year’s first quarter. Portfolio investmen’s totaled $1.03 million.

The total volume of direct investmen’s in Armenia for 1988-98 was $376.4 million–with the bulk of it made during the last two years ($240 million in 1998). The majority of investmen’s came from Greece–Russia–Iran–the United States–France–Great Britain–Canada–Germany and Syria.

1,350 enterprises with foreign investmen’s have been registered in Armenia from 1988 to January 1999–with most of them registered during the last three years. Companies shared in by foreign capitals have been set up mostly by investors from Russia–Iran–the United States and France–all countries with large Armenian communities.

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