YEREVAN, September 2. /ARKA/. Inflow of foreign investments in the real sector of Armenia’s economy grew 28.8% in Jan-June 2011, compared with the same period a year earlier, to $421.9 million less credits received from state-governing institutions and banks, National Statistical Service of Armenia reports.

Direct investments totaled $349.5 million - 58.6% year-on-year growth. They accounted for 82.89% of total foreign investments in Jan-June 2011 against 71.7% in the same period a year before.

According to the statistical report, 34.15% of total amount or 38.79% of direct investments were sent to the sector producing basic metals, 20.25% of total amount was invested in telecommunications and 9.88% in production and distribution of electric energy, natural gas, hot water and steam.

Russia was the largest foreign investor in Armenia in Jan-June 2011. This country invested $206.6 million in Armenia’s economy over the mentioned period.

France, with its $68.1 million, was the second biggest investor. The United States, with its $35.2 million in vested between January and June 2011, came third.

These countries’ shares in the total outside investments in Armenia’s economy were 49%, 16.1% and 8.3% respectively. ($1= AMD 367.5). -0-

(Thousand, USD)