Armenia attracts investments

On November 5 Armenian President Serzh Sarkisian met Armenian Diaspora representatives in Belgium and informed them that despite 4.2% inflation the country achieved 10.4% economic growth in 2008. He mentioned that in spite of the South Ossetian conflict this August the country managed to maintain its growth, although 70% of country’s trade turnover is achieved by using Georgian transport routes.

Sarkisian also touched upon the world financial crisis, saying that although the country has managed to avoid it Armenia is still taking some preventative measures to minimize the possible risk of the crisis reaching the country. The President said that Armenian businessmen now active in different countries are thinking about returning and investing in Armenia, because they see appropriate conditions and stability there.

Sarkisian stressed that, although Armenia is landlocked, there are few countries in the world with no direct access to the sea, and of Armenia’s four neighbouring countries two have closed borders with it. Despite such conditions Armenia works efficiently and achieves serious economic growth, and the country must therefore take appropriate steps to open its borders.