Minister hails capital outflow in case of business expansionOctober 25, 2012 - 17:01 AMT PanARMENIAN.Net - Russian market can’t be compared to that of Armenia, considering the volume of capital inflow, Armenian Economy Minister said. According to Tigran Davtyan, the annual capital inflow to Armenia totals about USD 700 million - 1 billion. “The capital outflow is considered good, in case of business expansion. Movement of capital to Russia and Georgia is a normal phenomenon. I think no one will get surprised to see a Belgian citizen make investments in the Netherlands, and the opposite,” he said. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. U.S. Assistant Secretary of State to travel to Armenia Assistant Secretary for European and Eurasian Affairs James C. O’Brien will travel to Yerevan on June 10-12. Power of One Dram to benefit Road of Life, Strong Mind IDBank and Idram summarize the results of the May program of “The Power of One Dram”. |