President Ilham Aliyev signs order on establishment of Azerbaijan Investment Holding

  07 August 2020    Read: 1345
 President Ilham Aliyev signs order on establishment of Azerbaijan Investment Holding

The President of the Republic of Azerbaijan Ilham Aliyev signs order on the establishment of Azerbaijan Investment Holding, reports.

The decree reads: "Sustainable structural reforms implemented in Azerbaijan serve the purpose of further increasing the efficiency of the economy. In this regard, the institutional and regulatory framework has been improved in the country, and a solid foundation has been laid for the development and full transparency of governance based on sound principles in the economic structures."

These reforms provided a strong basis for the improvement of the business climate. Besides, The country's socio-economic infrastructure has developed and the flexibility of governance has increased which was established according to the challenges of the new strategic phase.

Considering the importance of structural reforms implemented over the past period, special attention was paid to the management of public services and products on the basis of advanced principles.

Deepening structural reforms is required to improve the management system of state-owned enterprises, increase their efficiency and transparency, optimize their costs and risks.

“Guided by Clause 32 of Article 109 of the Constitution of the Republic of Azerbaijan, in order to improve the management of state-owned companies and enterprises and their activities on the basis of common principles, as well as, increase the transparency and economic efficiency of the investment programs implemented by those companies and enterprises and to improve financial health and sustainability” I decide:

1. To establish "Azerbaijan Investment Holding" public legal entity.

2. To approve "Charter of Azerbaijan Investment Holding.

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