Head of business union: four-day war in Karabakh to affect inflow of investments
YEREVAN, April 21. /ARKA/. In the long term the 'four-day war" in the Nagorno-Karabakh Republic in the first days of April, unleashed by Azerbaijan, will have a negative impact on the inflow of investments, the chairman of the Union of Industrialists and Entrepreneurs of Armenia, Arsen Ghazaryan, told ARKA.
"The hostilities will cut the amount of investments to Armenia. Their effectiveness will fall, while risks will increase, but we have what we have," Ghazaryan said.
He believes that the decrease in investment flows will affect Armenia's economy in a ten year perspective, however, attempts will be made to compensate for this decline in 2017.
According to the National Statistical Service, net foreign investment in the real sector of the Armenian economy in 2015 fell to about 123.6 billion drams from 167.4 billion drams in 2014. The inflow of foreign direct investment (FDI) fell to about 70.4 billion drams from 117.2 billion drams in 2014.
The largest share of foreign investments was channeled into the mining industry - 56.4 billion drams, production of electricity, gas, steam and conditioned air - 51 billion drams and air transport - 34.5 billion drams. -0-
"The hostilities will cut the amount of investments to Armenia. Their effectiveness will fall, while risks will increase, but we have what we have," Ghazaryan said.
He believes that the decrease in investment flows will affect Armenia's economy in a ten year perspective, however, attempts will be made to compensate for this decline in 2017.
According to the National Statistical Service, net foreign investment in the real sector of the Armenian economy in 2015 fell to about 123.6 billion drams from 167.4 billion drams in 2014. The inflow of foreign direct investment (FDI) fell to about 70.4 billion drams from 117.2 billion drams in 2014.
The largest share of foreign investments was channeled into the mining industry - 56.4 billion drams, production of electricity, gas, steam and conditioned air - 51 billion drams and air transport - 34.5 billion drams. -0-