ARMENIA IS BEYOND THE GAME RULES OF WORLD ECONOMY
Support A1+!Foreign direct investments /FDI/ made about $ 230 million in Armenia in 2003. In the first half of 2004 they increased by 40%. But FDI declined twice in the world economy. The data have today been represented in Armenian Development Agency.
Ministry of Trade and Economic Development of Armenia jointly with United Nations Development Programme (UNDP) launched the World Investment Report 2004.
We asked Mr. Tigran Davtyan, Deputy Minister of Trade and Economic Development, with what growth of the investments in Armenia is conditioned while it has reduced twice in the world. “It’s just an objective introduction of the statistics. Investments increased in Armenia whereas decreased in the international economy. There is nothing to argue about”, he says.
We also asked him to comment why our state in comparison with others can cause more business interest. Vahagn Movsisyan, Director of Armenian Development Agency, answered instead: “The principle of small size – big value prevails. Investments are made in the spheres where traffic is not much significant – diamond processing, information technologies, pharmaceutics, chemistry, biotechnology, mining-metallurgy etc”, he said.
”Oil industry stimulates the foreign investments in Azerbaijan, and oil transport sector in Georgia. The attractive circumstance in Armenia is the potential of scientific manpower, which leads to growth of investments”, Ms. Lise Grande, UN Resident Coordinator and UNDP Resident Representative, said.
Mr. Vahagn Movsisyan represented an interesting comparison: “Diamond processing develops because there is no need to hire a train to transport 1 kilogram of diamond. One may put it into the pocket and transfer in an airplane without paying for transportation”.
