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Kristine Aghalaryan

Argentina Overtakes Russia as Largest Source of Foreign Investment in Armenia

Argentina was the source of the largest percentage of foreign investment in Armenia in 2013 with US$117.9 million, according to Armenia’s National Statistical Service.

Coming in second was France (US$99 million), followed by Russia (US$86.2 million) and Cyprus (US$76 million).

Over the past six years covered in the chart (2007-2013), Russia was the leading source of foreign investment in all except for 2013, when it dropped to 3rd place. The United States lagged far behind with a mere 9.4 million.

Readers will note that 4th place Cyprus is a country where many corporations are registered as offshore entities. (Below chart shows USD in thousands)



Comments (2)

the economist
How many wineny operations (Tierras de Armenia), airports (ie Zvartnots) and banks (ie Converse) has Argentina's Eurnekian invested in across Armenia? Why is it such a surprise if his FDI continued in 2013? He is sort of a billionaire is USD terms, isn't he? It is not that farfetched given the paltry levels of FDI Armenia receives relative to Georgia.
the economist
Again, the data are commendable, but you should put the statistics in context by explaining the trends and the numbers; in other words, you should answer the question why. Also, in the case of Argenitina, could Mister Eduardo Ernekian help explain his country's outsized contribution?

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