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Oskanian shares concerns of Armenia's foreign investment records
tert.am
12:50 - 15.10.12
Ex-Foreign Minister Vartan Oskanian, who is now lawmaker of the
Prosperous Armenia party, has shared his concerns over Armenia's
foreign investment statistics in a new Facebook post.
The politician particularly notes that the foreign investments in the
first six months of 2012 decreased by 40% compared to the same period
of last year, and suffered a 60% drop in the second trimester.
`Any investor, whether foreign or local, considers the country's
macro-economic records - economic growth, inflation, foreign trade
balance, state debt etc. - while making a decision.
Also, inevitably, account is taken of the implementation of and
respect for the basic principles of free market relations, i.e. free
competition, equal conditions and immunity of property.
But there are also factors beyond economics, which essentially impact
investors' decisions. I was recently talking to successful and serious
people from Syria, who had material resources and knowledge in the
manufacturing sector. Despite their potentials and desire to make an
investment in Armenia, they have serious concerns and reservations
which can be summed up in the following four points.
1. Hope and belief in the country's future: The hope and trust in the
country's future is necessary not only for making investments but also
halting migration form Armenia. The inspiration of such hope should
emanate first of all from those in power, from their words and
actions. It also has to come from the political system which has to
ensure the necessary mechanism of balances and the free and healthy
debate over the prospects and alternative ways of the country's
development.
2. Uncertainties: Certainty and the investor and consumer's
expectations are the most important factor for boosting economy. Both
the legal platform and expectations are strictly gloomy in that
respect, with the tax legislation changing all the time in the last
couple of years and rumors about future changes continuing endlessly.
3. Justice: Any investor has a serious concern that in case of having
a problem, especially with someone holding a political leverage, he
cannot trust justice. There is also a serious concern here in terms of
discriminatory justice. with government bodies being used for solving
certain problems without any legal justification.
4. Peace and stability: This issue is naturally on everybody's mind.
Today, more than ever before, this is a serious obstacle to
investments. Azerbaijan is unconditionally supplying itself with arms,
adopting a stricter military rhetoric and committing more frequent
violations of the ceasefire across the Line of Contact, with the
negotiation process again having reached a stalemate,' Says Oskanyan.
tert.am
12:50 - 15.10.12
Ex-Foreign Minister Vartan Oskanian, who is now lawmaker of the
Prosperous Armenia party, has shared his concerns over Armenia's
foreign investment statistics in a new Facebook post.
The politician particularly notes that the foreign investments in the
first six months of 2012 decreased by 40% compared to the same period
of last year, and suffered a 60% drop in the second trimester.
`Any investor, whether foreign or local, considers the country's
macro-economic records - economic growth, inflation, foreign trade
balance, state debt etc. - while making a decision.
Also, inevitably, account is taken of the implementation of and
respect for the basic principles of free market relations, i.e. free
competition, equal conditions and immunity of property.
But there are also factors beyond economics, which essentially impact
investors' decisions. I was recently talking to successful and serious
people from Syria, who had material resources and knowledge in the
manufacturing sector. Despite their potentials and desire to make an
investment in Armenia, they have serious concerns and reservations
which can be summed up in the following four points.
1. Hope and belief in the country's future: The hope and trust in the
country's future is necessary not only for making investments but also
halting migration form Armenia. The inspiration of such hope should
emanate first of all from those in power, from their words and
actions. It also has to come from the political system which has to
ensure the necessary mechanism of balances and the free and healthy
debate over the prospects and alternative ways of the country's
development.
2. Uncertainties: Certainty and the investor and consumer's
expectations are the most important factor for boosting economy. Both
the legal platform and expectations are strictly gloomy in that
respect, with the tax legislation changing all the time in the last
couple of years and rumors about future changes continuing endlessly.
3. Justice: Any investor has a serious concern that in case of having
a problem, especially with someone holding a political leverage, he
cannot trust justice. There is also a serious concern here in terms of
discriminatory justice. with government bodies being used for solving
certain problems without any legal justification.
4. Peace and stability: This issue is naturally on everybody's mind.
Today, more than ever before, this is a serious obstacle to
investments. Azerbaijan is unconditionally supplying itself with arms,
adopting a stricter military rhetoric and committing more frequent
violations of the ceasefire across the Line of Contact, with the
negotiation process again having reached a stalemate,' Says Oskanyan.