Close to $200 Million Direct Investments Expectede to Come to Armenia in 2017

Suren Karayan, Armenian economic development and investments minister, speaking at a news conference, said that $150 to $200 million is expected to come to Armenia in 2017 as direct foreign investments.

He said that direct foreign investments in Armenia totaled $92 million in Jan-Sept 2016. “This is too little – only 1% of the country’s GDP, while for development and economic growth we should increase it at least five times to 5% of GDP as soon as possible,” he said.

In his words, some steps will be taken to achieve this indicator. First, taking into account that Armenian market is too small, investors will get an opportunity to enter bigger markets, and second, business and investment environment will be improved.

In particular, a package of legislative changes implying simplification of some procedures and introduction of the foreign investment protection institute is ready.

Besides “one window” scheme is created to serve investors. These steps give grounds for thinking that investments totaling $150 to $200 million will come to Armenia in 2017 also thanks to the expansion of the geography if investments.

As a successful investment-attracting project, Karayan point out the expected appearance of a German company at Armenia’s market.

A territory is already allocated, and the construction of the building for production of medical equipment and solutions for diagnostics is expected to be launched already in the first quarter of the next year.

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