YEREVAN. – Armenia’s economic progress can be ensured only in Customs Union, sociologist Aharon Adibekyan said

Adibekyan is confident Armenia needs investments amounting to $120 billion to restore economy.

“Investments should be made not in small and medium-sized business, but to dozen of large enterprises. The small and medium-sized business will be formed around these companies,” he said.

He believes the government must review its economic role and become more active in order to attract foreign capital by providing state guarantees.

“Since the government remains on previous positions, we can not expect any progress, or if there is progress under the influence of the Russian side,” he said, adding that Russia invested $7.59 billion over 22 years.