US Investmen’s in Armenia Double in 2001

YEREVAN (Armenpress)–The volumes of US investmen’s in Armenia have doubled in 2001–including a three times increase in the volumes of direct investmen’s.

A total of $20.6 million was invested by US companies in Armenia’s economy in the first three quarters– $10 million more than the total investmen’s in 2000.

The volumes of US direct investmen’s this year are $14.8 million–a great deal more than the $5.17 million in 2000.

The chairman of the Armenian American Trade Chamber Thomas Samuelian said the increase was the result of the Chambers’ assistance to possible investors–who are provided with correct and timely information about investmen’s opportunities and business environment in Armenia.

According to Armstat–the total volume of foreign investmen’s in Armenia in the first nine months of the year was $88 million–not including the loans received by the government agencies and Central bank. Of the total investmen’s $63 million were direct investmen’s.

The US government also released a total of $18 million to the Armenian government in 2001 for drafting a favorable legislation field–as well as for providing assistance to economic entities.

According to the US Embassy in Yerevan–$6 million of that sum is foreseen for development of financial-tax–customs and banking sectors.

The rest was allocated for providing technical services to small and medium business and for the enhancement of information technologies development–including a $2 millions given by the Eurasia Foundation in the form of loans to small enterprises and gran’s to non-governmental organizations.

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