Within the 9 months of the year 2002 the growth of foreign investment in the Armenian economy made 26.3%, and the growth of direct investment amounted 12% or $70.9 million. Armenian deputy minister of trade and economic development Tigran Davtian told journalists. The fist place on the volume of foreign investment is occupied by Russia, whose share equaled to $29.7 million out of the total amount of investments in the Armenian economy of $111.7 million within the 9 months of the current year. Russia is followed by the U.S. – $18.6 million, France – $11.3 million, Canada – $9 million. The deputy minister also reported that the Armenia’s debt to Russia making some $100 million would be added to the total investment amount, as it will be paid off at the expense of enterprises and is virtually Russian investment, as well as the “Lincy” US fund grant of $60 million, which in formal respect is investment, too.
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