Investments around USD 800 mln are Anticipated: Artsvik Minasyan

We’ll record about double digit growth in the field of industry. Artsvik Minsyan, RA Minister of Economy, told about this reporters today, introducing the monitoring results of the Ministry.

The Minister informed that on a 6-month basis production of Armenia’s industry, including energy with current prices will comprise about 10%, and if we turn them into comparable prices, we’ll record about 14% production growth.

A.Minasyan stated, that regarding investment policy numerous meetings have been recorded, and it’s anticipated that in near future we’ll edify investments on concrete directions, “Moreover, geographical distribution will be in the direction to China, the USA and the EU member countries. We anticipate essential investments in the field of mining as well, in particular, within exploitation of Amulsar and investments are anticipated, large-volume investments are anticipated regarding copper foundry as well. For the time being, we have investment promises regarding Free Economic Zones and value added tax (VAT), customs duty exemption mechanisms. Investment comprising about USD 800 million are anticipated.”

To the question, whether Armenia’s current economy is recording a crisis or a rise, the Minister replied, “If we compare economy prior to EAEU, presently, seemingly the period of restoration has been launched, as at the initial phase of entrance to EAEU, due to some confusion, essential reduction was observed, then it gradually started to be restored. Presently we’re gradually restoring the positions he had, however, it’s not the time to touch upon sharp growth. It’ll be recorded in the period, when our strategy-oriented model will completely function.”

By Ani Keshishyan