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ARMENIA'S BUSINESS ENVIRONMENT NOT GOOD FOR FOREIGN INVESTORS - LAWYERS
http://www.tert.am/en/news/2012/09/25/pastaban/
25.09.12
Investment policies should be very important for Armenia, according
to Nikolyay Baghdasaryan and Lernik Hovhannisyan, the director and
a lawyer of the Armlegal school of attorneys.
At a news conference on Tuesday, Baghdasaryan said that the Armenia's
investment environment is not attractive for big businessmen.
"I personally have served ten big investment companies, and later
they really left Armenia. I lost my job together with lots and lots
of Armenian citizens," he said, adding that his business later moved
to Georgia where he continued serving clients.
Baghdasaryan, who protected the interests of US-Armenian investor
Edmond Khudoyan, in Armenia, said he was very much surprised when a
Georgian official gave him his visiting card, asking him to let him
know about possible businesses obstacles.
Asked why they have focused especially on Diaspora-Armenian investors,
both lawyers noted that the Diaspora-Armenians, unlike the local
businessmen, never give in amid a civil struggle.
It is noteworthy that Khudoyan and his US attorney followed the news
conference via Skype. Another Diaspora-Armenian attending the meeting
said many of them often have difficulty selling their apartments in
Armenian due to spelling differences between the names appearing in
passports and notarial certificates.
Khudoyan's investments in Armenia's property market were spent for
purchasing a land lot which was later used for the construction of
a 10-storey building.
Vladislav Mangasaryan, the owner of several construction companies
who became Khudoyan's chief business partner, was later accused by
the US Armenian businessman for appropriating $7 million and forcing
the company into bankruptcy.
Noting that Mangasaryan is not the kind of person who could have
committed and digested the above frauds, the lawyers asked journalist
to launch an independent inquest in an attempt to reveal many
well-known names.
From: Baghdasarian
http://www.tert.am/en/news/2012/09/25/pastaban/
25.09.12
Investment policies should be very important for Armenia, according
to Nikolyay Baghdasaryan and Lernik Hovhannisyan, the director and
a lawyer of the Armlegal school of attorneys.
At a news conference on Tuesday, Baghdasaryan said that the Armenia's
investment environment is not attractive for big businessmen.
"I personally have served ten big investment companies, and later
they really left Armenia. I lost my job together with lots and lots
of Armenian citizens," he said, adding that his business later moved
to Georgia where he continued serving clients.
Baghdasaryan, who protected the interests of US-Armenian investor
Edmond Khudoyan, in Armenia, said he was very much surprised when a
Georgian official gave him his visiting card, asking him to let him
know about possible businesses obstacles.
Asked why they have focused especially on Diaspora-Armenian investors,
both lawyers noted that the Diaspora-Armenians, unlike the local
businessmen, never give in amid a civil struggle.
It is noteworthy that Khudoyan and his US attorney followed the news
conference via Skype. Another Diaspora-Armenian attending the meeting
said many of them often have difficulty selling their apartments in
Armenian due to spelling differences between the names appearing in
passports and notarial certificates.
Khudoyan's investments in Armenia's property market were spent for
purchasing a land lot which was later used for the construction of
a 10-storey building.
Vladislav Mangasaryan, the owner of several construction companies
who became Khudoyan's chief business partner, was later accused by
the US Armenian businessman for appropriating $7 million and forcing
the company into bankruptcy.
Noting that Mangasaryan is not the kind of person who could have
committed and digested the above frauds, the lawyers asked journalist
to launch an independent inquest in an attempt to reveal many
well-known names.
From: Baghdasarian