Russian companies to invest over $1 bln in Armenian economy in coming years - Reshetnikov

YEREVAN. Oct 19 (Interfax) - Russian companies plan to invest over $1 billion in the Armenian economy in the coming years, Russian Economic Development Minister Maxim Reshetnikov said.

"Armenia is a most important strategic partner for Russia. Trade turnover between the countries has grown this year, and I think we will exceed all pre-Covid indicators. The share of the overall volume of accumulated Russian investments in the Armenian economy has topped 40%; over 40 major Russian companies operate in Russia," Reshetnikov said during the Russian-Armenian Interregional Forum.

Reshetnikov took part in the event via videoconference.

"In the coming years, Russian companies plan to invest over $1 billion in Armenia's economy, and, moreover, it is important to note that a significant part of them are major taxpayers for the Armenian economy," he said.

Reshetnikov said Russia was interested in active development of trade and investment, and Russian businesses could offer the most effective solutions in the sphere of transport, energy, and social infrastructure, digital economy, logistics, and energy efficiency.