YEREVAN, APRIL 6, ARMENPRESS. The volumes of industrial construction have increased in Armenia in the first quarter, Deputy Minister of Economy Avag Avanesyan said at the session of the parliamentary standing committee on financial-credit and budgetary affairs, in response to the question relating to foreign investments.

“In the first quarter the construction volumes, in particular that of the industrial construction have started increasing and have been gradually restored. This in general can have no link with the foreign direct investments, but 35% of these volumes is being carried out in the energy system, which plays a major role in terms of attracting foreign direct investments”, the deputy minister said, adding: “Thus, we can suppose that this is being carried out at the expense of foreign direct investments. But this is just an assumption”.

As for the attraction of investments, the deputy minister said it’s obvious that the risks both in the economy of Armenia and the region have risen. This has taken place in summer. However, the government is developing an initiative and will try to certainly reduce these risks and attract investments if possible.

Editing and Translating by Aneta Harutyunyan