YEREVAN. – According to the 9-month results of 2019, foreign direct investment inflows were $268 million more than in 2018. The Minister of Economy of Armenia, Tigran Khachatryan, stated this in his press conference today summing up the results of 2019.
"On the other hand, there is another indicator, which is the ratio of gross accumulations to fixed assets; that is, how much the investments are in the year against the GDP. In this respect we will have about a 16% indicator,” he added. “The government has set a program target of no less than 25% indicator of GDP. In 2019 we will have approximately the same indicator as in 2017-2018, but the year 2020 will be a year summed up with a better investment indicator."
He also noted that foreign direct investment was $60 million less than in 2018.
As to whether tensions in the region will affect investment, the minister responded. "We hope that tensions linked to Iran will be resolved very quickly, and the events will develop in such a way that they promise a reliable medium-term prospect not only for Armenia, but also for the region in general. But we believe that the factor you mentioned cannot be a significant obstacle from the viewpoint of making decisions about Armenia."
Despite this, Khachatryan noted that trade to Iran will still not have the capacity its potential assumes for some time, but Armenia is a member of the EEU and presents a predictable environment for European investors.