New mines should not open in every corner
Our interviewee is a representative of TSO & Association investment firm Terence Ortslan, of Armenian descent.
-Mr. Ortslan, you made investments in various sectors of Armenia’s economy. Can you please tell me which sector has been the most profitable?
-Our fatherland is not well known in the world. In terms of investments, however, the most attractive sectors are agriculture, mines and energy. But for that we need new capitals and newer technologies. And in our opinion it is just starting to develop in Armenia. We should definitely be able to find more mineral resources in Armenia. We should develop agriculture, cattle-breeding and energy. I have seen that there are many projects and many of them were created during the Soviet times. As a result the predictions of reservoirs will increase.
-How can agriculture and mining simultaneously develop?
-No, they don’t conflict each other. For example, up until the last year Israel needed lots of energy resources and was importing those but now it produces energy internally. They have found natural gas there. The same should happen in Armenia. There are specialists, who believe that in Armenia major natural resources are accumulated.
-Back in the day there were many excavations and expeditions to find oil and gas in Armenia. But no results were recorded.
-I am an expert of mining but when during conferences I look at the documents of other countries I know that the oil is located very deep in the ore. It is too soon to speak about volumes but there are definitely reservoirs here.
-What is the most difficult thing for an investor in Armenia – business environment or the legislative field?
-Not the laws. Our legislative system compared to other countries is not weak but Armenia doesn’t have a sea. The borders with neighboring countries are blocked. Grantors are not well-aware of Armenia. We need advertisement. If we work well the investors will come and invest here in new sectors. European and American companies have more technologies than the Asian counties or our neighboring states. We wish that their technologies are more often applied here because those are more advanced. The environment is also very important. The European and American business environment is stricter and the laws are properly enforced.
-One of Armenia’s politicians expressed an opinion that the mines should be exploited in a speedier way assuming that maybe in 100 years the world wouldn’t have such a demand. Do you agree with that opinion?
-Yes, but if our government only thinks about mines it would be wrong. Fist of all our whole economy should develop evenly and it should include all the branches. We should also develop our infrastructures. We should move some of the businesses to the villages and regions and try to boost their development as well – build schools and factories and roads. In Canada there is a rule. There must be an airport, roads and a city next to a mine. The mines should be exploited but I am not saying that those must be wide-spread. Before exploiting each discovered mine the government should understand and assess its use to the public.
By Gayane Khachatryan
