In order not to economically fall behind its neighbors, Armenia will have to increase the level of investment appeal; it should reach 30-40 percent annually. Minister of Economy Vahan Kerobyan told this to reporters after Friday’s presentation of the roadmap for Armenia’s investment reform—and developed by the USAID program on improving the business climate of the country.
According to him, the amount of investments in Armenia should be increased to 25 percent, this also applies to foreign investments, which should reach 6 percent, whereas they currently do not exceed 1.7 percent.
"Such growth is necessary in order not to fall behind neighboring countries. However, our GDP is also not standing still. Let me recall that the indicator of economic activity [in Armenia] increased by 10.2 percent in January-May. Therefore, investments should grow by 20-30 percent annually. In this case, by the year 2024, we will be able to reach the target indicators that I mentioned," explained the minister.
For comparison, he reminded that the amount of accumulated investments in Armenia in 2021 amounted to 1.43 trillion drams, which is 10 percent higher than the previous year.