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Minister of Economic Development and Investment Suren Karayan predicts the first investment into the Armenian economy will be made in the renewable energy. The minister’s comment came at a briefing with journalist after the Cabinet session.

The minister referred to the projects launched by the government aimed at attracting large-scale investments into the Armenian economy. With that regard, the ministry completed 5 priority tasks and 18 planned actions in 2017. Particularly in terms of attracting investment in 2017, they had drawn up a list of investment projects per companies and financial sources, a state support toolkit was provided.

“I guess the statistics will also be released soon to present the first data on foreign investment,” the minister said, recalling also the reforms that stimulated the investment activation.

In Karayan’s words projects in the amount of 80 million USD have been implemented with some 1,800 jobs created.  Overall 70 investment programs have been presented
with a total expected investment value of 95 million USD.
 
Karayan said that all sectors of the economy are activated, yet the population will see the real results when the jobs are available.  “We expect to create 10 thousand new jobs this year if the investment projects are implemented,” the minister said.

To remind, earlier Armenian PM Karen Karapetyan told the Minister to conduct also an analysis on the possibility of creating new jobs and attracting investment in the area o the light industry development projects and.