Foreign investment in Armenian economy in 2012 amounted to 1.59 billion dollars, News.am writes with reference to the National Statistical Service of Armenia.
In 2012 investments reduced by eight per cent compared to the same period in 2011. Telecommunications was backed by 37.6 per cent of foreign investment and 49.82 per cent of direct investments in the real economy in 2012.
France became the largest foreign investor in Armenia with $230 million worth of investments which is 2.3 times more than in the previous year. More than 90 per cent of these investments were made in telecommunications, Orange Armenia.
Investment inflow from Russian companies in 2012 amounted to $123 million, 3.2 times than in 2011. One-third of Russian investments were made in the telecommunications sector. Russian companies also expressed interest in the energy sector ($25 million), production of non-ferrous metals ($7.2 million), retail trade ($ 25 million) and transport (14.5 million dollars).
Foreign investments in Armenia are also being made from Argentina to the sum of 51 million drams (due to the activity of Eduardo Eurnekian). Most of the investments made are in agriculture.
Investments from Germany and Switzerland were made in the mining sector, constituting $ 48 million and $43 million respectively. Investments from the Seychelles fell to telecommunications worth $23 million.