"One of the most important components of a balanced policy is foreign investments," wrote his former advisor Mesrop Arakelyan, responding to Nikol Pashinyan's statement.
The economistcontinues.
"That is, how attractive and reliable the country is for investors from other countries. This is how states "prove" their partnership in real life.
In this regard, the picture is very worrying and there is no premise that we will record positive expectations regarding foreign investments in the foreseeable future.
And so, the volume of foreign direct investments made in Armenia in the last 35 years (current balance) is 5.45 billion dollars.
This is only 1.9% of GDP for 35 years, which is just a ridiculous number. Of this, more than 1 billion dollars are invested by offshore countries, most of which are actually of Armenian origin.
The picture is worrying, not only in terms of the proportion of investments, but also in absolute numbers from partner countries for Armenia.
. The volume of existing investments by Russia is 2 billion dollars, 37% of foreign investments.
Apart from Russia, there is no other country that has invested at least half a billion dollars in Armenia.
. French investments amount to 367 million dollars.
. US investments amount to 224 million dollars.
Iran's investments amount to 0.2 million dollars.
. Georgia's investments amount to 1.8 million dollars.
China's investments amount to 0.8 million dollars.
These figures show that partnership relations with Armenia are far from reality, which is primarily the consequence of our wrong foreign and economic policy for decades.
In order to gain the reputation of a serious and reliable partner in the international arena, one must have at least 10 partner countries, each of which will invest at least 1 billion dollars in Armenia, and for this it is necessary to radically change the content of economic and foreign policy."
