Number of Armenian companies in Russia rises 2.3-fold in five years

There are currently 1,736 companies operating in Russia whose founders are registered in Armenia, with Armenian businesses accounting for less than 3% of companies with foreign participation in the country, Armenian media reported.

The number of such companies has grown 2.3-fold over the past five years, according to research by counterparty verification service Rusprofile, cited by RIA Novosti.

Armenian-owned businesses in Russia are concentrated primarily in trade, construction and transportation, the study found.

By Tamilla Hasanova