Last year, though a post-crisis year, was a favorable year for the Armenian Development Agency (ADA), ADA General Director Robert Harutyunyan told journalists Feb. 16.

The agency`s investment and export programs proved a success last year. “Last year the agency determined the target sectors – information technologies, agriculture, construction, energy and tourist infrastructure development. We ensured direct foreign investments of around U.S. $4.5 million and exports totaling U.S. $3.5 million,” Harutyunyan said.

He pointed out pure magnesium production and sapphire crystal growing programs and the agency`s important involvement in the accelerator construction program in Armenia.

Last year the agency was active in the tourist industry as well.

“This year, under a preliminary agreement with the Iranian side, a three-star hotel, Teheran, will be constructed in Yerevan for Iranian tourists. The project is estimated at U.S. $7 million, with the Armenian side`s share being U.S. $1.5 million,” Harutyunyan said.