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December 05
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Russian companies plan to invest more than $1 billion in Armenia. Russian Minister of Economic Development Maksim Reshetnikov said this Tuesday during the Eighth Armenian-Russian Interregional Forum in Yerevan.

According to him, most of those Russian companies are the big taxpayers for the Armenian economy.

He said that representatives of more than 40 Russian companies which are interested in cooperation in various domains have arrived in Armenia to attend the aforementioned forum.

"We hope that the main results of the work of the forum will be the agreements on new joint projects, and, of course, the development of interregional cooperation is very important to us," he said.

Also, the Russian official emphasized that Armenia is Russia's key strategic partner.

"We develop our relations on the basis of the principles of good neighborliness and unconditional respect for mutual interests. Strong ties help us overcome the effects of the economic downturn, and we see that turnover has increased again this year.

It is very important that not only trade, but also investment cooperation is developing [between the two countries]. Currently, there are more than 40 large Russian companies operating in Armenia, which invest in Armenia’s economy, create new jobs. At the same time, it is important that there are plans to further strengthen this cooperation," the Russian minister of economic development concluded.

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