Global investor Robert Bassili predicts financial crisis in Armenia

15/03/2019 15:40

Global investor Robert Bassili predicts financial crisis in Armenia

Robert Bassili is a businessman, investor, philanthropist with Armenian heritage with a focus on business interests in Ukraine. He is the founder and member of the board of directors of Ramsis Capital LLC. Now Robert Bassili is in Armenia and he is in search of a suitable business for investment. In an interview with Mr. Bassili shares his thoughts on Armenian economy and investment opportunities.

- Mr. Bassili, this weekend within an event you made a speech and predicted a financial crisis. Did you mean the crisis in Armenia or in the world in general? You also predicted devaluation of AMD. Why do you think so?

- In 2007 there was a financial crisis because the world has too much debt․ Now 10 years later Global debt has reached a record high of $184 trillion in nominal terms. That is the equivalent of 225 percent of the world GDP in 2017, so we have better get ready for the mother load of all financial collapses ahead, US dollar will be safe haven during the crisis which will automatic devalue the AMD, but currently I think the correct pricing USD/AMD will equal 520.

- You are interested in the Armenian market and have plans for investment. In which field are you particularly interested in?

- Currently I am investigating different opportunities, our investment thesis is very specific and precise, we like business that is simple, predicable free cash flow generative, dominate, then we look to see if we can acquire part of the company at a deep discount to what’s it worth, and the discount can be because of issues, such as management, strategy, cost structure issue, hidden asset issue.

- You're planning to develop your business into a free market monopoly. Armenian new government fights any kind of monopoly performance in the market. Do you think it's not a problem?

- Globally business can be put into 2 categories: competitive business and free market monopolies, it is known that competitive business does not generate any profit and eventually go bankrupt, as an global investor, we try with my management team to create free market monopolies. Companies such as Facebook, Uber, McDonalds Coca-Cola, Apple, Microsoft understand this, so what I am talking about is not unique or controversial, its simple fact, the social impact of free market monopolies is a different discussion and this is something we are always mindful to manage.

- You are a foreign investor who worked in Ukraine, Egypt and East Europe. Why did you choose especially Armenia, why are you interested in this market - full of political and regional issues?

- Armenia has just gone through a revolution so as there is a realignment of policy and reform, so it is my belief there is some great potential for investments and human capital, our decisions are based on if we can add value to any potential investment, and this includes all stakeholders including employees.

- First time you visited Armenia in February 2018. Within a year Armenia experienced great changes. As an investor, how do you think: Is it easier to invest in the Armenian market now than before? What problems still exist?

- Yes I can see some changes, and there is signs of some momentum and confidence in the business community, I am a firm believer for the economy and citizens to prosper, then democracy will not be enough, the government along with business and investment community should support the SME ( Small Medium Enterprise ), any healthy and prosperous country backbone has a strong SME sector, so I see this as the biggest challenge and opportunity , there is certainly risks in Armenia, such as corruption, oligarchy system, underdeveloped judiciary, and unresolved Karabakh conflict as well as closed border, there will need to be solutions found.

In case you have found a mistake in the text, please send a message to the editor by selecting the mistake and pressing Ctrl-Enter.


24/05/2019 17:09 Armenia’s PM respects rights of each citizen: spokesperson 24/05/2019 17:02 Oil rises towards $69 but set for 2019's biggest weekly loss 24/05/2019 16:17 Facebook plans to launch 'GlobalCoin' currency in 2020 24/05/2019 15:45 Three more die on Everest amid overcrowding near summit 24/05/2019 15:13 Henrikh Mkhitaryan will miss the match of a lifetime because he is from Armenia, this is a scandal: Labour Party MP Tom Watson 24/05/2019 14:26 Arzuman Harutyunyan dismissed from post of deputy chief of NSS 24/05/2019 14:07 Systema financial corporation offers Armenia’s president join its Board of Directors 24/05/2019 13:35 Certificates handed over to the graduates of yet another “VivaStart” program 24/05/2019 13:22 Vetting not humiliating, it will make judges stronger and more confident: Karen Zadoyan 24/05/2019 13:12 Theresa May to resign as prime minister 24/05/2019 12:52 Artsakh President, CC president Hrayr Tovmasyan discuss cooperation in judicial sphere 24/05/2019 11:50 Chairman of Supreme Judicial Council Gagik Harutyunyan steps down 24/05/2019 11:38 Renowned conductor Konstantin Orbelyan sues Armenia’s PM and acting minister of culture 24/05/2019 11:32 Transitional justice must filter the system, form independent judicial system: NA speaker 24/05/2019 11:00 Fans Make Petition To Boycott The Europe League Final In Baku 24/05/2019 10:57 Ucom Offers Internet Starting from 6.4 AMD/MB when Travelling in More than 50 Countries 24/05/2019 10:40 Julian Assange, Wikileaks co-founder, faces 17 new charges in US 23/05/2019 21:10 We reached a harbor when constitutional order may be overthrown by using people: Armen Rustamyan 23/05/2019 20:49 Republican party’s Executive Body conducts session chaired by RPA president Serzh Sargsyan 23/05/2019 20:39 Now authorities demand obedience from Artsakh: Gegham Manukyan 23/05/2019 20:23 No serious achievements may be registered until you become serious: Arthur Khachatryan 23/05/2019 20:12 Time for shouting “keep your spirits high” ended, you are authorities: Ishkhan Saghatelyan 23/05/2019 20:03 Who will be those to subject judges to vetting: lawyer Ruben Sahakyan 23/05/2019 19:27 ARF-D’s rally starts in Liberty Square 23/05/2019 18:53 Armenia’s Attorney General’s office appeals two decisions of Yerevan court 23/05/2019 17:23 China says U.S. needs to correct wrong actions to continue trade talks 23/05/2019 16:28 PSG boss Al-Khelaifi charged with athletics corruption 23/05/2019 15:54 India election results 2019: Narendra Modi takes landslide win 23/05/2019 15:42 YSU rector Aram Simonyan resigns 23/05/2019 15:27 German envoy visits Iran to mediate as tensions rise 23/05/2019 14:59 Application of Kocharyan and other’s case in preliminary examination phase: CC 23/05/2019 14:35 Tornado kills three people in Golden City 23/05/2019 13:35 We do really have such concerns: SC secretary on PM’s conspiracy statement 23/05/2019 13:17 I cannot imagine Implementation of “conspiracy” even theoretically: Artsakh president advisor 23/05/2019 12:50 Armenia faces issue of stadium: UEFA may disqualify the existing one: AFF president 23/05/2019 12:33 Panasonic 'suspends transactions' with Huawei after US ban 23/05/2019 11:56 New family entertainment park to be built in Yerevan 23/05/2019 11:36 President of Supreme Judicial Council agrees to visit NA Human Rights and Public Affairs Standing Committee to answer lawmakers’ questions 23/05/2019 11:16 Irish minister criticizes UEFA for failing to ensure Mkhitaryan’s participation in Euro League final 23/05/2019 10:54 Al. Myasnikyan monument taped (photos) 23/05/2019 10:43 Armenia’s Minister Khachatryan, Georgian Ambassador discuss opportunities of boosting economic cooperation 23/05/2019 10:32 Vahe Ghazaryan appointed commander of police troops 22/05/2019 18:57 Post about occupying Shushi is what Azerbaijan really is: Davit Babayan 22/05/2019 18:46 Council of Europe experts to arrive in Armenia to Yerevan to offer advice and assistance with necessary reforms 22/05/2019 17:13 Belarus representative Stanislav Zas to assume post of CSTO secretary general from January 1, 2020 22/05/2019 16:58 Students of Yerevan State Institute of Theatre and Cinematography close doors, demand minister Araryik Harutyunyan to show up 22/05/2019 15:54 Citizens of Armenia among injured in bus crash in Italy 22/05/2019 15:28 Brexit: PM under fire over new Brexit plan 22/05/2019 14:43 Iranian threats 'put on hold', says US defence chief 22/05/2019 14:08 CC judge candidate Arthur Vagharshyan meets with My Step faction lawmakers 22/05/2019 13:38 FAON rejects Dutch Foreign Minister Stef Blok's lax response to Erdogan’s unacceptable words about Armenian Genocide 22/05/2019 13:03 Hero of Artsakh, major-general Arkady Ter-Tadevosyan marks his 80th jubilee 22/05/2019 12:59 43 million AMD worth exercise equipment donated to Armenia’s two military universities (video) 22/05/2019 12:36 Armenia’s SC secretary Armen Grigoryan heads to Russia 22/05/2019 12:27 Man Booker International Prize: Jokha Alharthi is first Arabic winner 22/05/2019 12:10 Senior Associate at International Center for Transitional Justice Ruben Carranza heads to Armenia 22/05/2019 11:37 Indonesia post-election protests leave six dead - Jakarta governor 22/05/2019 11:09 Expertise conclusion over Amulsar mine exploitation not received: Investigative Committee 22/05/2019 10:58 Draft anti-corruption strategy to be presented for public discussion in near future: deputy minister 22/05/2019 10:39 More impeachment calls as ex-White House lawyer skips hearing 21/05/2019 22:13 Armenia’s government may rely on the EU on its way to reforms in judicial sector: EU diplomat 21/05/2019 21:35 The European Parliament expresses concern about Nikol Pashinyan's appeal to block courts 21/05/2019 21:26 Armenia’s SC secretary’s visit to USA lacks any content: expert 21/05/2019 19:49 The Rule of Law and separation of powers must be respected: EPP president 21/05/2019 17:40 The metal container of 30 years will be left behind by end of year 21/05/2019 17:10 Ren Zhengfei says US government 'underestimates' Huawei 21/05/2019 16:42 I must admit it hurts me a lot to miss it: Henrikh Mkhitaryan on missing Europa League Final 21/05/2019 16:34 Vetting not aimed at targeting any judge: justice minister 21/05/2019 16:05 Justice minister does not exclude resignations among judges 21/05/2019 15:47 We must not repeat the mistakes we made 25-30 years ago: director of Geology Institute 21/05/2019 15:14 Arsenal midfielder Henrikh Mkhitaryan not to depart for Baku: Arsenal statement 21/05/2019 15:07 Jamie Oliver restaurant chains face collapse 21/05/2019 14:34 Vetting should have been applied year ago: Bright Armenia lawmaker 21/05/2019 14:21 PACE co-rapporteurs call to Armenia’s PM to refrain from actions and statements that could be perceived as exerting pressure on the judiciary 21/05/2019 13:46 Pashinyan adopts policy of speculating people’s factor: ARF-D SB statement 21/05/2019 13:15 Armenia does not need Azerbaijan’s lectures: MFA spokesperson 21/05/2019 12:38 No doubts of economic revolution in Armenia: economist 21/05/2019 12:12 All for all principle must not be a way to justify impunity: Anna Naghdalyan 21/05/2019 12:10 Rise in global sea levels could have 'profound consequences' 21/05/2019 11:33 Niki Lauda, Austrian Formula 1 legend, dies at 70 21/05/2019 11:15 According to CB assumption Amulsar program to be resumed from second part of the year: Nerses Yeritsyan 21/05/2019 11:06 Armenia’s FM to depart for Nicosia on June 4 21/05/2019 11:00 OSCE Minsk group co-chairs to visit the region in late May 21/05/2019 10:42 2019 economic growth to fluctuate between 4,6-6,1%: CB 21/05/2019 10:25 Security Council secretary meets with leaderships of ANCA and AAA in Washington 20/05/2019 19:58 Talks about Armenia-Artsakh tension exaggerated: Davit Babayan 20/05/2019 19:49 Only worrying thing are thoughtless comments aimed at creating Armenia-Artsakh disputes: Ashot Ghulyan 20/05/2019 19:37 Information about tension between Armenian, Artsakh authorities artificial: Bako Sahakyan 20/05/2019 19:28 Robert Kocharyan and others’ case proceedings suspended, forwarded to Constitutional Court 20/05/2019 19:15 Guarantees for Robert Kocharyan’s release not aimed at creating additional tension: Bako Sahakyan 20/05/2019 18:02 Trump's 'genocidal taunts' will not end Iran - Zarif 20/05/2019 17:50 PAP faction has no decision on joining Bright Armenia’s signature gathering initiative 20/05/2019 17:24 We encourage the government to pursue judicial reform in a manner commensurate with the Armenian Constitution: U.S. Embassy 20/05/2019 17:02 Brazil violence: Gunmen kill 11 people in bar in Belém 20/05/2019 16:32 IMF to provide 248.2 million USD loan to Armenia 20/05/2019 16:07 US president says war would be 'end' of Iran as tensions rise 20/05/2019 15:48 Armenia’s PM dismisses deputy governors 20/05/2019 15:23 Artsakh president Bako Sahakyan to meet today with Armenian NA factions 20/05/2019 15:05 ARF-D to conduct rally on May 23 20/05/2019 14:47 Huawei's use of Android restricted by Google