ArmInfo. Russia intends to invest over $ 1 billion in the Armenian economy in the near future.
Deputy Minister of Economic Development of the Russian Federation Dmitry Volvach stated this on the sidelines of the VIII Armenian-Russian Interregional Forum.
At the same time, he pointed to the positive dynamics of investment cooperation. According to the Deputy Minister, the volume of jointly accumulated investments from the Russian Federation to Armenia is more than $ 2.2 billion. "We know that there are specific projects worth more than $ 1 billion, which will soon enter the Armenian economy," Dmitry Vulvach said.
Referring to statistical data, he drew attention to the fact that 40% of foreign investments in the Republic of Armenia fall on investments from the Russian Federation. "It seems to me that it is quite logical that this share should, at least, remain. It is clear that there are investments from other countries, from other partners, but I hope that Russia and Russian business will retain their role and significance in the Armenian economy, "he said.
In turn, Minister of Economic Development of the Russian Federation Maxim Reshetnikov confirmed that in the coming years Russian companies are ready to invest about $ 1 billion in the Armenian economy. He noted that the Armenian-Russian trade turnover has already exceeded the pre-COVID indicators, and Russian companies are among the largest taxpayers in Armenia.
To note, Russia is traditionally the main trade partner of Armenia. According to the data of the Statistical Committee of the Republic of Armenia, in January-August of this year, the trade turnover between Armenia and Russia amounted to $ 1.5 billion, which is 12% higher than a year ago. At the same time, exports increased by 30.9% to $ 522 million, imports by 4% to $ 1 billion.
