Hrant Bagratyan's Facebook post.
Dear Facebook Armenians, I am back. By the way I will make a business trip for 8-9 days in a few days.
There is not enough time. A few words about the upcoming plans.
Now I'm working intensively on a legislative initiative, which consists of 100 steps. A law draft is already ready in which there is a suggestion to prohibit offshore companies' activity in mining industry of Armenia. You know that recently these companies' activity in West have simply the objective to export legally the resources of the developing. A number of Western countries (USA, France, Italy, etc.) are still fighting against it. During the meetings G-20 in April 2009 in London and in September in Pittsburg a fair claim was raised to eliminate offshore.
These are the causes of the crisis. However you see that the offshore territories are developing. To the traditional Switzerland (this is an unacceptable bank offshore) Luxembourg, the Czech Republic, Virgin Islands, Liechtenstein, Andorra, Cayman Islands, Belize, Aruba, Maldivians, Palau, Iceland, Grenada, Gibraltar etc. Being registered in offshore and leading activities outside it non-resident companies have the opportunity to hide taxes and export capital gains from mother countries: Armenia's mining industry is like this.
If it were a good thing U.S., China (excluding previously registered 1 port offshore), Canada, Brazil, France, Japan, Germany will make that business. For instance in 2013 RA economy is growing but come and see that this ungrateful nation sees the growth and ... emigrates. Moreover such a start of migration we have never had.
What is actually happening?
People are looting the mines day and night, sell their products very cheap to their offshore counterparts and then from there they are selling the products with real prices. And such an economic growth naturally does not help to people, even though they are plundering and selling people's own properties. In the initial period it is necessary to prohibit the activities of the offshore companies in mining industry and later also in finance and other fields.
For instance, opening a bank account in Switzerland should be criminally punishable. Parallel to all that should be introduced minimal export prices for mining resources.
There is other good news: your humble servant is going to be taken into consideration more as an expert in EU's different countries' forums.
This issue will be discussed in details in the near future.