Restoring the Trust of Diaspora Armenians

A foundation has been created for the protection of interests of Diaspora Armenian Investors.

“Reviewing the investments made in the RA by Diaspora Armenians over the last decade, and the projects implemented by them, one arrives at a conclusion that only a small portion of those investments serve their real purpose.

Diaspora Armenians, who are guided by the principles of patriotism, developing the RA Economy, and creating new jobs, invest in the RA Economy, and often, if not always, face artificial obstacles.

Analysis reveals that most often investors encounter illegalities from government bodies or officials or different branches of authority, including the judicial system or the oligarchic individuals sponsored by them. The implementers of government policy, disguised under the idea of “free economy”, in reality provide exclusive conditions only for oligarchic monopolists.

Patronage and corruption do not  ensure the purposeful use of investments and often lead to the disappointment and despair of investing Diaspora Armenian individuals, who leave the RA forever and refuse to make any more investments. This leads to more inevitable consequences, when others hear about the situation from their acquaintances in business circles and also refrain from investing in the RA.

The prominent oligarchic circles in the RA, who are backed by the support of the powerful and strong state machine, use the capacities and opportunities of the apparatus and view the Armenian Diaspora investors as a means for making money.  They rob the investors by “legal means”, utilizing “legal and illegal methods” and fraud, abusing trust, distorting reality, taking advantage of legislative omissions and the high level of corruption in the judicial system. While promoting the idea of doing a selfless act for the country and investing in it, they are actually again attempting to make money off of the Diaspora, and unfortunately with success.   This situation hurts the positive image of Armenia from the investment perspective and is reflected in the reports of correspondinginternational organization.

There is already an atmosphere of distrust towards the RA economic and legal system among Diaspora Armenians, and changing it will be a rather painstaking process.

The RA became a place where they quench their longing for the homeland and take their kids to Armenia and enjoy looking at Ararat. However, Diaspora Armenians do not view Armenia as their homeland anymore, which should be developed, stabilized, and advanced.   The RA Government System, along with its officials, conducts a practice of enriching its oligarchs at the expense of Diaspora Armenians, instead of developing the country. This practice forces some RA businessmen to leave the RA and continue their business in other countries, therefore Diaspora Armenians will hardly be attracted to engage in business here.

Being interested in the improvement of the economic situation in Armenia, we find it crucial to restore the trust of Diaspora Armenians towards Armenia. We are condemning the unlawful actions against Diaspora Armenians in Armenia, and will consistently follow up with exposure of all the infringements against them and an objective examination of all cases.

Hereby, the initiative group declares the commencement of the process of protection of the interests of Diaspora Armenian investors and will hereafter consistentlyengage in the protection of the rights of Diaspora Armenian investors, the prevention of violations, and the process of restoration of their violated rights.”

Initiative Group,
Artur Voskanyan
Coordinator

Tigran Karapetyan
Representative of the Armenian Community in Venice

Levon Nersisyan
President of “The A.D.Sakharov Armenian Human Rights Protection Center”, NGO

Artur Sakunts
Chairman of Helsinki Citizens’ Assembly-Vanadzor

Arman Babajanyan
 Editor-in-Chief of the Newspaper Zhamanak and 1in.am Analytical Website

Nikolay Baghdasaryan 
Member of the RA Chamber of Advocates and Director of ARNI Legal Aid LLC

Samvel Jaghinyan
Member of the RA Chamber of Advocates

Lernik Hovhannisyan
Member of the RA Chamber of Advocates