Russian investments in Armenia to reach $5 billion

On the whole he underlined that trade turnover between the countries reduced due to global crisis.

Nevertheless, Zaytsev outlined stable activities of local companies with Russian capital.

“Not a single company decayed. Russian investments are fully preserved, as economic crisis did not impact them anyhow,” he pointed out.

Zaytsev also hailed Russia’s $500m credit allocated to Armenia, as well as work of Armenian-Russian intergovernmental commission, stating that all aspects of bilateral trade-economic relations were discussed at the recent session.

Zaytsev also informed that this year electro-technical production in “Mars” factory jointly with Greek Intercom-telecom Company will be launched.

“No large projects are expected in 2010, positive trends should be preserved. To date, volume of Russian investments in Armenia totals over $2.5bn, and will reach $5bn in 2-3 years,” trade representative noted.

/News.am/