Armenia is Open to Foreign Investments, Says Vahan Kerobyan

On August 4, Minister of Economy Vahan Kerobyan participated in the Uzbek-Armenian Business Forum held as part of the first session of the intergovernmental commission on trade and economic cooperation between Armenia and Uzbekistan. Present at the forum were businessmen from various sectors, including energy, tourism, trade, and industry, who arrived from Yerevan to Tashkent.

In his speech, the minister presented the key indicators of the Armenian economy, noting that in 2022, Armenia recorded a 12.6% economic growth, while in the first half of this year, the figure stood at 11.4%.

“Foreign direct investments have exceeded $1 billion, accounting for more than 5% of GDP, while total investments reached $4.2 billion, corresponding to 22% of GDP. Last year, approximately 12,500 companies opened in Armenia, nearly half of which had foreign investors, which indicates that Armenia is open to foreign investments,” Vahan Kerobyan stated.

During the forum, businesspeople and state representatives engaged in active discussions regarding exports, imports, and the implementation of investments.