This figure represents a 24% drop compared to the previous year.
The foreign investment peaked last year dominated by France Telecom's launch of the "Orange Armenia" brand in Armenia.
This year "Orange Armenia" again contributed a significant portion of direct investment into the telecom sector, amounting to as much as $ 67,5 US. However, as "Orange Armenia" draws closer to finalizing building up its network infrastructure, France Telecom's investment will certainly diminish.
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.