- 13 October 2020
Executive Director of the Center for Analysis of Economic Reforms and Communication Vusal Gasimli appealed to companies operating in Armenia and carrying out illegal activities in the occupied territories of Azerbaijan. V. Gasimli noted that investments made in Armenia and the occupied territories serve to continue the occupation of 20 percent of the territory of Azerbaijan, mass killings of civilians, and destruction of civil infrastructure. “Financing Armenia’s militaristic economy is contrary to business culture and international law. High external debt, deficit of payments and consolidated balances, credit rating "weaving on the ground" and slowdown in economic growth, as well as constant strife between foreign investors and the state should serve as a signal for businessmen wishing to invest in Armenia. According to the forecasts of the Fitch credit agency, by the end of 2020 the Armenian economy will shrink to 6.2%, and the total public debt-to-GDP ratio will increase to 63.9%, and by the end of 2021 will reach 65.6%”, said V. Gasimli. According to his words, non-involvement in transport and logistics projects due to the lack of direct access to the sea, remoteness from the main markets and aggressive policy, as well as border restrictions have turned this country into a hopeless "dead end" for investments. “Over the past six years, the country has attracted only 1.6 billion US dollars of direct foreign investment, which is the lowest in the region. The matter is that Armenia lacks efficiency, resources, strategic assets and specialized personnel – the indicators that investors are looking for. In particular, a -5.6 net migration rate, depopulation, declining fertility rates, and rising average age of the population have put Armenia face to face with a demographic crisis and a shortage of labor force. It is difficult for foreign investors to live and work in mono-ethnic Armenia, which implements a racist policy and elevates fascism to the level of a state ideology”, he mentioned.
In his appeal to investors V.Gasimli says that settlement, mining, and economic activity in various spheres in the territories that are internationally proved (UN Security Council Resolutions on the Nagorno-Karabakh conflict No. 822, 853, 874, 884) to belong to the Republic of Azerbaijan without the consent of the Azerbaijan’s government lead to legal liability. As he said: “Armenia’s use of the Metsamor nuclear power plant contrary to international pressure, the pollution of the Araz River, the use of the Sarsang reservoir as an ecological weapon, and the destruction of nature in the occupied territories are the damage that the country evidently causes to the environment. Therefore, investing in a country that poses an environmental threat would mean ignoring international challenges in the fight against climate change. That is why we call every investor to think seriously before investing in Armenia".