Armenian government, opposition launch joint businesses

/AzerNews/

By Mushvig Mehdiyev

A business partnership between Armenia's Prime Minister Hovik Abrahamyan and an opposition leader Gagik Tsarukyan has sparked public concerns across the country.

Gagik Tsarukyan is currently among the most famous persons in Armenia after his leading role in the new national movement. His Prosperous Armenia party, one of the three driving opposition forces which are uniting under informal "troika" alliance, has orchestrated the recent protest rallies across the country demanding a power change in Armenia. But the new facts revealed by Hetq, an investigative journalism organization, have put Tsarukyan's anti-government activities in doubt.

Hetq reported that Tsarukyan owns a number of joint businesses with Hovik Abrahamyan. Hetq's investigation shows that the current "enemies" are in fact close and long-term "friends."

Abramyan's nephew Hovaness Abrahamyan owns about 33 percent of the shares of Ecofish Trade company, which is engaged in fishing industry. Tsarukyan controls 34 percent of the company's shares, as the major stakeholder of the business in Ararat region.

Abrahamyan's son Argam Abrahamyan and Gagik Tsarukyan also share the stakes of the Franck Muller Yerevan Watch Distribution, a store that sells brand watches manufactured by the Franck Muller company. Around 12 percent of the shop's shares is owned by Abrahamyan Jr., while Tsarukyan benefits by 12 percent of the shares. Armenian entrepreneurs in Moscow control the rest of the company's shares.

Abrahamyan and Tsarukyan have same shares in Aysirkap and Forts companies. The two oligarchs own 25 percent of Forts's shares. The rest 50 percent belongs to an Armenian businessman in Moscow.

The two Armenian statesmen's business "empire" is not limited to the mentioned businesses. It also includes Abovyan City supermarket. Abrahamyan Jr. and Tsarukyan control the shares of the huge supermarket with Abovyan region's mayor Karen Abovyan.

Hotel Imperium Plaza with the total capital of $4.6 million fully belongs to the prime minister's son Argam.

The rule of law should unconditionally be obeyed in each country since this is the law which defines the rights and wrongs, as well as the things to do or not to do. The statesmen in Armenia should unambiguously avoid any business engagement as additional sources of income according to the country's constitution. Nevertheless, high-ranking officials of the country breach the law. Huge business network of Abrahamyan and Tsarukyan proves the officials' disrespect towards the constitution.

Another important issue is the proximity of the two opposing political figures. Tsarukyan is an opposition leader who is preparing to put forward his candidacy in the next presidential elections. He called for a new power system in Armenia during the latest rally held on October 24. Abrahamyan is the second main political figure in the country after the president. The incumbent government is headed by Abrahamyan and Tsarukyan's demand for the transition of power directly hints to the resignation of the government including the PM.

Briefly, Abrahamyan and Tsarukyan are the two "gladiators" fighting each other in the political arena. But when it comes to business, they turn into "Batman and Robin" supporting each other in the prolific operations.