The problems connected with Bjni Mineral Water Company are up to getting an unexpected solution. Such unexpected solutions are innovation in the newest history of the country. It is the first time that a company that is in operation is being brought up for auction. It is a company, which has successfully sold two new brands in the market. Bjni was famous during the Soviet times as well. However, it was a second class water brand, which was not compatible even in the domestic market. During the Soviet times Bjni water was bought by people with small budgets. People preferred Jermuk. Furthermore, another type of Jermuk with foreign letters produced for export was a luxurious product. During the past years Bjni company managed to break the stereotype of the Soviet times and offer a better product. In the beginning, this initiative surprised everyone. All the post-soviet countries know that in Armenia people can simply open water tap and enjoy clear water. However a new brand offered by Bjni company, Noy mineral water surprised everyone with its quality. It came to prove that the spring water of mountains can be bottled without losing the flavor and quality. People in cities could pay and drink the water of mountains. Soon this water was exported. And now, this company, which is developing and opening new markets, is put for auction.
As I am an economic reporter, I will not discuss any political reasons in my article. Only from the economic point of view it is clear that the processes that are happening to Bjni company are out of any logics. At first it was announced that the company had a lot of debts and penalties to be paid to the state budget. As I remember the debt covered 1,3 bln dram and the penalties were twice more. The government managed to chose the most original way to get that 4 billion debt from the company. They decided to close down a company, which was operating effectively and had over 400 workers. This decision does not have any social or state motivations or interest. A country with such interests should have taken the management of this company under control not to let violations take place and not to let it close down in order to employ people and pay salaries and taxes. Accordingly, the penalties and debts should have been taken from the incomes portion of the owners. Indeed the government decided to close down the company. They made a list of the company’s products and facilities. They sold the products of the company amounting several millions and now they are going to sell the factory in an auction. I guess the state will not receive even half of the sum due to it. No one will say anything or punish for such loss to the budget.
This process will result in a change in our economic life. It will bring a tradition of making private ownership vulnerable. We are not the first country to abuse the right for private ownership. During the past century the Bolsheviks’ Russia started its era with the slogan “let’s expropriate the expropriators” too. Everyone knows how the state collapsed as a result of the Bolsheviks’ activities. Now Ukraine is petitioning the UN countries to define the policy of those countries as genocide. Any suspicious decision concerning private ownership results in a negative attitude. In all countries the private ownership right is protected by the laws that are called main laws.
All the countries, which are trying to develop their economies, are trying not to let such things happen. Insufficient protection of ownership is frightening foreign investors and they think that it is risky to invest in our economy. Generally the capital likes the business that is free of risks. It concerns the domestic capital too. Definitely the domestic companies will come to a certain conclusion too. During this period of world crisis almost in all countries of the world there is outflow of capital. Such outflow is going to the countries, which have more stabile economies. It seems that our government is encouraging this process. I don’t understand what is the interest of our state in this process. Likewise, I don’t understand the goal of the announcement published by the Justice ministry’s judicial acts mandatory fulfillment department recently. The mentioned part of the announcement is the following: “By the way, it is worth mentioning that the company’s director was not at the factory during the last week, and his mobile phone was turned off too.” It is great substantiated justification, a new word in the economic law.