Russia plans to invest about $1 billion in Armenia

Russia plans to invest $1 billion in the Armenian economy in the near future

Russia plans to invest $1 billion in the Armenian economy in the near future, Russian Deputy Economy Minister Dmitri Volvach said at a briefing within the framework of the 8th Armenian-Russian Interregional Forum on Tuesday, Qazet.az informs, citing TASS.

"According to statistics, at the moment, 40% of foreign investments in Armenia are investments from the Russian Federation. It seems to me 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 the Russian business will retain their role and significance in the Armenian economy," he opined.

For his part, Russian Economic Development Minister Maksim Reshetnikov confirmed that in the coming years, Russian companies are ready to invest about $1 billion in the Armenian economy. "Our trade turnover has already exceeded pre-Covid-19 indicators, and Russian companies are among the largest taxpayers in Armenia," he added.