Armenia must not cherish hopes that its membership to the Eurasian Economic Union will give it more investments, economist, Head of Alternative Research Center Tatul Manaseryan said at a forum on the prospects of Armenia's membership to the EEU on Friday.
The organizers of the forum were the World Armenian Congress and the Union of Armenians of Russia.
"We must not hope for direct foreign investments but must stimulate home investments and develop SMEs. If we do it, foreign investors will come as this will be a signal for them that we have healthy and competitive business environment," Manaseryan told ArmInfo.
The Armenian President's advisor Karine Minasyan said that now that Armenia has joined the EEU its policy has become clear for the world as now Armenia knows what economic model it will apply in the next decade. "This means stability and for an investor there is nothing more important than stability," Minasyan said.
She noted that despite its EEU membership Armenia will continue its partnership with the EU.
Meanwhile, the National Statistical Service reports that in Jan- June 2014 the inflow of foreign investment into Armenia made up $597.4mln (20.5% annual drop), including $271.2mln in direct foreign investments (52.2% annual drop).
On Oct 10 Armenia signed an agreement to join the Eurasian Economic Union. The Union will start its activities in Jan 1 2015.