Russia increases investment in Armenia

Russia invested a total of $2.8 billion into Armenia from 1999 to
2010, a Russian trade official on Armenia, Alexander Zaycev, said,
ARKA reports.

The rate grew 16% in the first half of 2010, he told the third annual
Russian industry exhibition EXPO-RUSSIA ARMENIA.

Zaycev cited Armenian President Serzh Sargsyan on the construction of
new nuclear energy blocks with Russian investment of $5 billion.

There are approximately 1,400 Russia-Armenian companies with joint capital.
Armenian Premier Tigran Sarkisyan said earlier that over 60% of all
investment in the country comes from Russia.

The Armenian National Statistics Service said that the total level of
Russian investment in Armenia in January-June 2010 will reach $116.885
million, including direct investments of $85.814 million, amounting to
37.7% of total foreign investment and 38.95% of direct investment.
This is a 16.7% rise compared to the same period last year, with
direct investments rising 5.1%.