YEREVAN (Novosti Armenia), June 4–Russia ranks first in terms of foreign investments made in the Armenian economy in January-March 2010.

According to the National Statistical Service of the Republic of Armenia, total Russian investments to the Armenian economic sector amounted to $51.9 million, $42.2 million of which falls on direct investments.

This amounts to 32 percent of all foreign investments to Armenia and 36 percent of direct investments.

Russian investors directed about 72.8 percent of their means to the production and distribution of energy, gas, hot water and cultivation, 15.4 percent to the sphere of communications and 10 percent to the production of base metals.

Investments were also directed to other spheres like rest accommodations, entertainment, culture and sports ($298,700), construction ($270,000), wholesale trade and reseller trade ($151,000), real estate transactions ($110,900).

In January-March 2010 total foreign investments in the Armenian economy amounted to $162.2 million, of which $116.9 million are direct investments.

Translated from Russian by Yerevan Report