// IP Marketing video - START// IP Marketing video - END

Armenia's Defense Ministry seeks full ownership over military company - paper

Armenia's Defense Ministry seeks full ownership over military company - paper

PanARMENIAN.Net - Armenia's Defense Ministry is eager to purchase 20 per cent of shares of Automatica CJSC.

The Ministry will submit this draft decision at the coming governmental session, Haykakan Zhamanak daily reports saying it already owns 80% of shares in this military industrial enterprise.

“It is unclear why the Defense Ministry seeks to possess 100 % of this company; no shareholder of any company in Armenia can in fact interfere with the company’s activities,” paper says.

The remaining 20 per cent currently belong to a certain Zaven Tumanyan, and the defense ministry is going to buy the share for USD 200000. The government will allocate the sum from off-budget resources, the daily says.

 Top stories
According to a report published by SCImago database, Armenia is ranked 65th globally among a total of 239 countries and territories.
Cases of abuse of power or official misconduct also decreased in the reporting period, dropping to 136 from 168 a year before.
According to a government statement, the draft decision is in full compliance with the Armenian legislation.
Based on GDP per capita, Armenia ranks the 40th among developed countries, again outperformed by Turkey, Azerbaijan, Iran and Georgia.
Partner news