Azerbaijani confederation: Entrepreneurs should find ways to attract alternative financing  

  30 November 2018    Read: 581
Azerbaijani confederation: Entrepreneurs should find ways to attract alternative financing  

Presently, entrepreneurs need to look for ways to attract funding from alternative sources, President of the National Confederation of Entrepreneurs of Azerbaijan Mammad Musayev said at the conference "New Opportunities for Financing and Business Development" in Baku.

Musayev noted that a number of Azerbaijani companies have already contributed to the development of the capital market in Azerbaijan through the issuance of bonds.

The issuance of bonds is one of the main mechanisms of state borrowing, he said, adding that last year, the Ministry of Finance attracted 700 million manats through the issuance of bonds and this process shows how big this market is in Azerbaijan.

As another example he noted the issuance of bonds by the Azerbaijani state oil company SOCAR and METAK.

"Entrepreneurs want to make rational decisions to enter the capital markets, but they do not know what initial steps should be taken and where to take them. In order to eliminate this, the Baku Stock Exchange has created a listing advisory program. Under this program, professional support provided for the companies willing to attract funds from financial markets," Musayev said.

Musayev also added that one of the main requirements for attracting financing from the capital market is timely disclosure of financial statements and transparency.


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