FDI in Armenia Reached $360 Million in 2023

During discussions at the National Assembly of Armenia, Minister of Economy Gevorg Papoyan unveiled the latest figures on foreign direct investments (FDIs) in the country. According to Papoyan, Armenia attracted approximately $360 million in FDIs during the first nine months of 2023.

In a breakdown of the data, Papoyan highlighted that the net flows of foreign investments in Armenia’s real sector amounted to $278 million for the same period. Furthermore, FDIs from other Eurasian Economic Union (EAEU) member countries, excluding Armenia, totaled around $58 million during this timeframe.

Comparing these figures to the previous year, Papoyan noted that in 2022, net flows of foreign investments in Armenia’s real sector reached $451.5 million, with EAEU countries contributing significantly, particularly from Russia, amounting to $364 million. Additionally, total FDIs in Armenia for 2022 amounted to $417 million, with EAEU countries accounting for $250 million in net flows.

These statistics underscore the pivotal role of FDIs, especially from EAEU member countries, in Armenia’s economic development strategy. The Ministry of Economy continues to work towards fostering an attractive investment environment to further boost foreign investments in the country.