Germany’s ambassador describes Armenian currency as stable

31.10.2018 18:03
Germany’s ambassador describes Armenian currency as stable

YEREVAN, October 31 /ARKA/. Germany’s Ambassador to Armenia Mathias Kiesler praised today Armenia’s national currency, the dram, describing it as a stable currency, when speaking at an event marking the World Savings Day.

Kiesler said if he had free money, he would open a deposit in an Armenian bank, but he has invested his money in real estate in Germany. He said since the Armenian drama is quite stable, the risks associated with investing in a local bank deposits is rather low.

"These are good prerequisites, including for the banking system of Armenia. They also testify to their good work and the efficiency of the Central Bank. If there is confidence in the banking system, then one of my recommendations is to open deposit accounts in Armenian banks," said Kiesler.

The Ambassador said also Armenia’s investment field is very attractive, and that Germany is ready to expand its presence in the country

"The bulk of German investments are made in Armenia’s mining sector, and I believe that this industry will continue to play an important role for Armenia," said Kiesler.

According to him, the embassy is working to attract more German investment to Armenia, including to the IT sector. He said investors should also consider the possibility of investing in Armenia’s manufacturing industry.

"The framework for investment in Armenia is quite good, the country's reputation to attract investors has increased significantly in recent months, and I hope that the new government, after the elections, will further strengthen this atmosphere," said Kiesler.

German net foreign direct investments in Armenia in the first half of 2018 amounted to 10.4 billion drams against 7.6 billion drams in the same period of 2017. ($ 1 - AMD 485.99). -0-

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Tags: , , , Новости Армении АМИ Новости-Армения

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