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SERZH SARGSYAN NEEDS FORCEFUL GUARANTEES
Naira Hayrumyan
http://www.lragir.am/index.php/eng/0/comments/view/28093
Comments - Monday, 19 November 2012, 11:55
Armenia has improvement regarding the investment climate by 74 points,
reaching the 25th position from the 98th in the Doing Business report.
It seemed that a wave of investments, a boom of foreign capital should
have followed this report but nothing happened. The reason is that
nothing has changed but on paper. The government does nothing for
investors to feel safe. On the contrary, the authorities demonstrate
readiness to defend officials.
A lawsuit that would punish officials for fraud against investors
could be a good message to foreign investors while nothing similar
seems likely to happen. And the example would be Edmond Khudyan's
case which publicly calls the names of officials involved in corrupt
fraudulent schemes, and prosecutors again pretend to be deaf.
The Prosecutor's office shows signs of life only when the president
"wakes it up" and makes it collect data against Vartan Oskanian. The
U.S. ambassador has already called this "selective justice".
Otherwise, it could be called lack of justice.
The court defends the interests of official harming investors, hence
depriving the country of important investments which could not only
enhance but also develop the culture of the Armenian economy.
Actually, the court is becoming the main criminal hindering the
economic and political development of Armenia.
The court is just something adjunct to the government intended to
defend its interest. It is clear that if the court rules in favor
of an investor once, the entire system will collapse. The system is
based on mutual responsibility: each supports the ones standing next
to them, not letting them fall.
The U.S. ambassador John Heffern has stated more than once that he is
trying to attract investments to Armenia. But the potential investors
ask him three questions about the judicial, tax and customs fees and
competition issues. "I can't answer these questions yet," says the
ambassador, urging the authorities to display political will.
Anyway, he understands that any expression of "political" will is
likely to be the end of the current government. Perhaps, Armenia's
president needs serious guarantees that he won't be left under the
ruins of the system, which will collapse if the investors win in the
fight investors v. officials. Who will give him guarantees? The fact
that no investment has come to Armenia despite progress in the Doing
Business report means that there will be no guarantees. Investments
will wait for the collapse of the system. Then Serzh Sargsyan will
surely be left under the ruins.
Naira Hayrumyan
http://www.lragir.am/index.php/eng/0/comments/view/28093
Comments - Monday, 19 November 2012, 11:55
Armenia has improvement regarding the investment climate by 74 points,
reaching the 25th position from the 98th in the Doing Business report.
It seemed that a wave of investments, a boom of foreign capital should
have followed this report but nothing happened. The reason is that
nothing has changed but on paper. The government does nothing for
investors to feel safe. On the contrary, the authorities demonstrate
readiness to defend officials.
A lawsuit that would punish officials for fraud against investors
could be a good message to foreign investors while nothing similar
seems likely to happen. And the example would be Edmond Khudyan's
case which publicly calls the names of officials involved in corrupt
fraudulent schemes, and prosecutors again pretend to be deaf.
The Prosecutor's office shows signs of life only when the president
"wakes it up" and makes it collect data against Vartan Oskanian. The
U.S. ambassador has already called this "selective justice".
Otherwise, it could be called lack of justice.
The court defends the interests of official harming investors, hence
depriving the country of important investments which could not only
enhance but also develop the culture of the Armenian economy.
Actually, the court is becoming the main criminal hindering the
economic and political development of Armenia.
The court is just something adjunct to the government intended to
defend its interest. It is clear that if the court rules in favor
of an investor once, the entire system will collapse. The system is
based on mutual responsibility: each supports the ones standing next
to them, not letting them fall.
The U.S. ambassador John Heffern has stated more than once that he is
trying to attract investments to Armenia. But the potential investors
ask him three questions about the judicial, tax and customs fees and
competition issues. "I can't answer these questions yet," says the
ambassador, urging the authorities to display political will.
Anyway, he understands that any expression of "political" will is
likely to be the end of the current government. Perhaps, Armenia's
president needs serious guarantees that he won't be left under the
ruins of the system, which will collapse if the investors win in the
fight investors v. officials. Who will give him guarantees? The fact
that no investment has come to Armenia despite progress in the Doing
Business report means that there will be no guarantees. Investments
will wait for the collapse of the system. Then Serzh Sargsyan will
surely be left under the ruins.