Yerevan/Mediamax/. First “Direct Foreign Investments in Armenia” Forum is taking place in Yerevan today.

Mediamax reports that, speaking at the launch of the event, Director of Armenian Development Agency (ADA) Robert Harutyunyan stated that the Forum is a good platform for presenting potential investors with the successful experience of companies, which have already invested in Armenia. Robert Harutyunyan also informed that in the final part of the event, businessmen will be provided the chance to make suggestions on improving the investment climate in Armenia, which will become a topic of discussion for the country’s government.

Both current and potential foreign investors into Armenian economy, local entrepreneurs, Armenian Minister of Economy and other state officials, figures in change for economic policy participate in the forum.

The Forum is organized by ADA in cooperation with Dutch “Ecorys” Research and Consulting Company and Armenian branch of Cyprus “Management Mix” Consulting Company. The Forum is held within the framework of World Bank’s program on stimulating foreign investments, funded by the government of the Netherlands. Sponsors of the forum are “ACBA-Credit Agricole Bank”, “Yerevan Brandy Company” and “Renco” Developer Company.

Direct investments in Armenia in 2009 reduced in USD expression by 33%, making USD 732.1mln. The volume of direct foreign investments in the first half of 2010 made USD 220.3mln, having reduced by 10.6%, as compared to the first half last year. The largest investor in Armenian economy is still Russia, which has invested USD 116.89mln in the first half (USD 85.8mln of which are direct investments). The second is France with the volume of investments making USD 70.4mln (the entire volume represents direct investments), the third is the Netherlands, which has invested USD 63.08mln in the first half of the year, of which USD 2.3mln are direct investments. In January-June, 2010, 25.39% of direct foreign investments into the real sector of Armenian economy were directed into the energy sector, 47.05% - into the sector of telecommunications, and 7.78% - into the sphere of air transport.