YEREVAN. - The more competition is developed, the more is French companies’ readiness to invest in Armenia’s economy, French ambassador to Armenia Henri Reynaud told the reporter of Armenian News-NEWS.am.

According to him, the French companies functioning in Armenia help promote competition in Armenia.

“For example, entering the market Orange company helped to contribute to the improvement of competition in the field of telecommunications. It refers to all enterprises with French capital: Yerevan Brandy Factory, ACBA Credit Agricole Bank and so on,” the French Ambassador said.

There are currently 155 French – Armenian enterprises functioning in Armenia. France is a big trade partner of Armenia and the second largest foreign investor to Armenia’s economy (about $700 million).