RUSSIAN-ARMENIAN BUSINESSMAN BORIS PETROSIAN INTENDS TO SET UP VENTURE FUND IN ARMENIA
Noyan Tapan
Jan 22, 2008
YEREVAN, JANUARY 22, NOYAN TAPAN. Boris Petrosian, a Russian-Armenian
businessman, chairman of Sapphire company (Armenia) and co-founder of
Mshak company intends to set up a venture fund in Armenia. Informing
NT correspondent about it, he added that he has assisted with
development of science and science-intensive technologies in Armenia
for 15 years. In Russia he engaged in science-related business,
construction and lease of commercial facilities. So far B. Petrosian
has invested more than 10 million dollars in Armenia. Besides,
the businessman provides assistance to two departments of Armenian
technical universities by financing training of students abroad.
In his words, development of Sapphire plant’s production is equivalent
to Armenia’s having large oil resources as the market of this plant
is increasing by 40% with every passing year. "I strive so that
Sapphire’s output will make up 10-20% of the world market. 30 units
for artificial growth of sapphires operate at the plant".
"There are plans to synthesize new artificial sapphire-based substances
to be used in energy saving and alternative energy technologies,"
he said.
(Substances obtained on the basis of artificial sapphire are also
used in mechanisms and optical electronics). He envisages launching
production of 5th generation incandescent lamps with the use of new
artificial sapphire-based substances. Such lamps use 20 times less
energy than similar ones with the same capacity, which are currently
in use.
Speaking about the policy conducted by the state, B. Petrosian
said: "Unfortunately, after the incorrect privatization process,
all wealth that our fathers left for us has been scattered. A state
is rich when it has production and exports. Whereas, 90% of the RA
National Assembly’s busienssmen deputies are importers who work for
their own profit and against the Armenian economy". In his opinion,
a holding to unite non-food industrial plants should be founded in
Armenia in order to solve problems related to the use of local raw
materials, reduction of production’s power intensity, introduction of
science-intensive technologies, promotion of exports and ensuring a
higher degree of production transportability. "At present, instead
of domestically produced molybdenum being bought for 27 dollars a
kilogram, it is bought abroad for 250 dollars a kilogram and then
brought back to Armenia," he said.
B. Petrosian expressed an opinion that in order to develop
science-intensive technologies in the country, the state should apply
some assistance mechanisms, particularly, in the form of privileges
used in many countries.
"In making some investments, I am aware that their result may be seen
in a hundred years when I will be no longer alive. However, I do so in
the name of the future, and the state should realize that investments
in science are made for the future," he underlined. Besides, the
businessman pointed out the necessity to create legislative mechanisms
banning brain drain and unlicenced transfer and export of intellectual
property, particularly, technologies.