YEREVAN (Noyan Tapan)A total of 250 joint ventures–subsidiaries and offices of foreign companies were established in Armenia in 1996–according to the Chief of the Foreign Investment Department of Armenia’s Economic Ministry–Narine Sahakian.
The major areas for investment are trade–energy–communication–construction and transport. Among major investors are Iran–the US–Russia and Germany. With 173 deals–Iran is the leader in the number of registered joint ventures. An estimated $60 million in foreign investmen’s were made in 1996.