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Armenian Capital Flowing from Armenia

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  • Armenian Capital Flowing from Armenia

    Panorama.am

    20:05 31/01/2007

    ARMENIAN CAPITAL FLOWING FROM ARMENIA

    `Grand Holding' refused to answer questions of Panorama.am saying they
    are discontent about the interpretation of facts on Michael
    Vardanyan. They also complained that the information was posted at
    Panorama.am portal apart from `My Right' newspaper. It became clear
    from the conversation that they are discontent that the article was
    titled `Rat run' referring to Michael Vardanyan's leaving the Armenian
    Revolutionary Federation (Dashnakcutiun).

    It is well known that the behavior of some Armenian businessmen is out
    of any rational thinking. Moreover, the Armenian oligarchs use to
    close information to public at unreasonable excuses or even depending
    on their mood at that particular moment.

    We must inform Hrant Vardanyan, the chairman of `Grand Holding' that
    we are not asking why he did not file a law suit against Ruben
    Hakhverdyan for insulting him as he intended to. Nor do we ask why he
    got hold of 30 ha land at Jrvej forestry without any legal grounds.
    We also do not ask what is the aim of the film on Ruben Hairapetyan
    shot at the order of H. Vardanyan. The question of `My Right'
    newspaper relates to the investment made by the company in Armenia and
    abroad in the course of the last three years.

    Hrant Vardanyan does not lose the chance to flow the Armenian capital
    out of the country in the case when the Armenian president, government
    institutes put every effort to advertise the Armenian investment
    environment and pay $1000 to CNN for promotion.

    H. Vardanyan thought about foreign investment when the dollar was
    sharply devaluated in Armenia and when the business of exporting
    companies stopped bringing as much profit as was planned. It was then
    that Vardanyan said he will export capital if the currency exchange
    remains the same. The Armenian dram not only kept its positions but
    also strengthened against USD. Only in 2006 it strengthened against
    USD by 10 percent. Taking into consideration this fact we may say that
    Vardanyan could timely export the Armenian capital. It is clear after
    all these why `Grand Holding' refused to answer our questions.

    Source: Panorama.am
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