OLIGARCHIC CAPITALISM PREVENTS DEVELOPMENT OF SMALL AND MEDIUM-SIZED BUSINESS IN ARMENIA: EXPERTS OF EURASIA FOUNDATION

Arminfo
2007-04-02 17:28:00

Oligarchic capitalism prevents the development of small and
medium-sized business in Armenia, the experts of the Eurasia
Foundation say. They have come to such conclusion as a result of a
survey conducted within the frameworks of a program on alternative
dispute resolution.

The director of the Union of Constructors of Armenia, Gurgen Minassyan,
says that the program was aimed at finding alternative to resolution
of commercial disputes at court. Most of commercial disputes inside
construction companies concern moral problems, non-compliance with
contractual obligations or incorrect profitability estimates.

None of the respondents expressed willingness to resolve such
disputes at court. A total 94.2% of them gave preference to third
person intermediation and 5.8% said that the only way out is force.

As a result of the program, 40 construction companies, jointly with
the Union of Constructors of Armenia, drafted and adopted a corporate
ethics convention and commercial dispute resolution rules.

From: Emil Lazarian | Ararat NewsPress