Haykaz Fanyan warns about risks that Armenia may encounter in its  attempt to nationalize "Electric Networks"

ArmInfo. There are certain dogmas in capitalism, one of which is the inviolability of property rights.  Haykaz Fanyan, the head of the ACSES Analytical Center,  emphasized  this on a social media platform, pointing out the potential  challenges that Armenia could face if it decides to nationalize  CJSC.

"About renationalization There are dogmas in capitalism, one of which  is the inviolability of property rights. When it comes to  nationalization, or more accurately, renationalization, especially  when forced and possibly without compensation, this will inevitably  have a negative impact on the country's investment attractiveness.  Such precedents are extremely dangerous (for example, Venezuela,  Bolivia).

I am not an expert in international investment law, but in the case  of the ESA, some  intermediary companies are registered in Cyprus. We  have an agreement with Cyprus on the promotion and protection of  investments, which may allow Cyprus resident companies to apply to  the International Centre for Settlement of Investment Disputes with  all the negative consequences that entails. The Republic of Armenia  is involuntarily faced with unjustified risks,"  Haykaz Fanyan noted.