In the first half of this year, local investments in Armenia amounted to about $120 million, and foreign direct investments—$37 million. Gagik Makaryan, Chairman of the Republican Union of Employers of Armenia, told about this to Armenian News-NEWS.am.
"That is, local investors have increased. Today, there are many investment projects which are in progress, especially by Armenians in Russia.
The [respective] attitude of the [Armenian] government is very important here. The government must either not interfere—with its operations—or create new opportunities. Now we see that the government is still passive, in a transitional mood, staff is changing, some ministries are in a semi-collapsed condition," Makaryan added.