YEREVAN.- Armenia’s economy needs credits, not investments, said head of the Union of Domestic Goods Producers.

Vazgen Safaryan considers investments in major projects, for instance NPPconstruction or Iran-Armenia railway, will be much more useful than credits.

“China, as a state interested in investing in regional infrastructure, may invest in the railway construction,” he told reporters on Wednesday.

However, he added, it is very important for Armenia to get a $400-million credit to resume the work of Nairit chemical plant. Credit request has been discussed by the Eurasian Development Bank for already two years.

As to Armenia – Iran railway, a tender for construction has not been invited yet.  The Ministry of Transport is negotiating with investors. There is also uncertainty about the construction of a new nuclear unit. The Russian side declared its readiness to invest 20-25% of its value.

Safaryan expects that the volume of industrial production in Armenia will grow by about 6% - from AMD 992 to 1,050–1,060 billion this year.