Investments into real sector of Armenian economy to total $230m in 2002

The total estimated investments into the real sector of Armenian economywill amount to $220-230m by the end of 2002, Armenian Trade and EconomicDevelopment Minister Karen Chshmarityan said. The minister was quoted assaying the investments into Armenian economy will remain on the same levelin 2002 as last year. At the same time, as the minister pointed out, thisyear two Armenian largest companies - ArmenTel and ArmRosgazprom have notmade any investments so far. After the expected investments of a new ownerof the Armenian electric energy distribution networks, Midland Resoursis, asubstantial growth will be posted. It is noteworthy that according to thedata of the National Statistics Service of Armenia, in January-September2001 the volume of investments into the real sector of Armenian economy was$88.4m, of which direct foreign investments accounted for $63.3m, theARMINFRO news agency reported..