This is Another of the Investment 'Bubbles': LHK MP on the Opening of the Armenian-Iranian Joint Machine Engineering Plant

LHK MP Armen Yeghiazaryan commented on Prime Minister Nikol Pashinyan's participation in the opening of the Armenian-Iranian machine engineering plant and then his failure to mention this event. Below is the excerpt of his statement.

“We value every dram of investment and believe that the government should facilitate their involvement as much as possible and be consistent in solving the problems that arise. My question to the Prime Minister had that context, which led to further discussions. First, the Prime Minister did not recall that he had personally attended and familiarized himself with the so-called Armenian-Iranian manufactured ‘Saina Armenia’ vehicle, and because he did not recall that 2018 event, he could not comment on why that investment never materialized.

Everything would have ended there if yesterday the media affiliated with Pashinyan's family, HJ, had not published a video allegedly showcasing this investment, while the investor responded to our concerns with offensive remarks. Let’s set aside the personal jibes in the headline of that interview and focus on the ‘investment’ itself.

This pertains to ‘Rad Sane Vashamir Group’ LLC, whose foundation ceremony took place in October 2017. The official announcement stated that work was to commence in May 2018 and finish in May 2019. The expected investment volume was to be $30 million, with an estimated workforce of 300-400 people. On September 6, 2018, under the leadership of Pashinyan, the government adopted a decision providing tax benefits to ‘Rad Sane Vashamir Group’ LLC. In December of the same year, Prime Minister Pashinyan also visited this plant, where he familiarized himself not only with the production of gas cylinders but also with the so-called Armenian-Iranian manufactured ‘Saina Armenia’ vehicle. In May 2019, ‘revolutionary’ production was also visited by Lori Province Governor Andrey Ghukasian, after which the provincial government's official website announced that by the end of the year, the plant would have around 80 employees.

Now, as you know, it is 2020, and I believe we would all prefer to hear about results from the authorities—at least regarding those crucial jobs. Unfortunately, the Prime Minister did not recall that event, and his family-owned media rushed to prepare a report about the ‘revolutionary’ plant, which was supposed to dispel our concerns.

Below, I present the total number of employees of that organization (including the director and other positions not directly involved in production) so that you can understand the basis of our concerns:

• 2018 - 1 employee. Probably the same person who welcomed Pashinyan at that plant in 2018.
• 2019 - January to May: 1 employee, June to August: 4 employees, September to December: 8 employees.
• 2020 - 7 employees.

As you can see, neither the promised 300-400 in 2017 nor the promised 80 jobs in 2019 have materialized. Instead, what has opened are mouths full of insults directed at the opposition, which, of course, is difficult to consider as an investment in the economy. This is yet another of the investment ‘bubbles’ that burst due to the government’s dilettante approach. It turns out that it was much harder for the authorities to send someone to study the results of the investment than to send a family media outlet to convince the public that the investment bubble has not yet burst.”