47% of investment in Armenia went into telecom sector

More than 47% of all direct investment into the Armenian economy has flown into the telecommunications sector, amounting to $ 109 million US in the first half of this year, according to the latest data released by the State Statistical Service.

This figure represents a 24% drop from the previous year.

The foreign investment peaked last year dominated by France Telecom‘s launch of the “Orange Armenia” brand in Armenia. As “Orange Armenia” finishes building up its network infrastructure, France Telecom’s investment will certainly diminish.

This year “Orange Armenia” again contributed a significant part of direct investment into the telecom sector, amounting to as much as $ 67,5 US.

The investment in “Orange” in the course of the past two years has made France the second largest investor in Armenia after Russia.

Aside from being the largest investor in the Armenian economy in general, Russia is also a major player in the Armenian telecom sector as the country’s two largest telecom operators: “K-Telecom” and “Armentel” are owned by Russian companies, MTS and Beeline respectively.

Originally posted at The Armenian Media Guy