The proposal to privatize the State Oil Company of Azerbaijan (SOCAR) today was received from the Chairman of the Board of Directors of the Financial Markets Supervision House (FMSH), Rufat Aslanli.
According to his statement during the presentation of the first issue of local bonds by SOCAR, it is only the beginning, and in the future there will be a massive issue of shares to a wide range of shareholders. ‘Several years ago, there was a conversation with the President of the company, Rovnag Abdullayev, so the idea is implemented,’ he said.
According to Aslanli, the House is going to monitor the strict implementation of SOCAR’s obligations under the security of the rights of investors.
According to experts, this is a moot point, because control of the oil company is fully at the country's President, so the problem of its privatization under the existing legislation depends on his will. In addition, evaluation of SOCAR’s assets, including its subsidiaries scattered abroad, is to be carried out. It is also necessary to solve the legal questions, so most likely, in the case of a decision on the privatization the majority stake will remain at the state. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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