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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Azerbaijan's Small and Medium Business Development Agency (SME) and the Iraqi Federation of Chambers of Commerce have formalized a significant step towards enhancing bilateral economic ties with the establishment of the Azerbaijan-Iraq Business Council. The agreement, signed by Orkhan Mammadov, Chairman of the Board of Directors of SME, and Abdulrazag Al-Zuheir, President of the Iraqi Federation of Chambers of Commerce, comes within the framework of the Azerbaijan-Iraq Business Forum.
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Azerbaijan officially presented the updated digital government platform "myGov" at an event on September 17 in Baku, marking a significant step in the country's digital transformation. The event was attended by government officials, private sector leaders, media representatives, and industry experts.
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Minister of Economy Mikail Jabbarov held a meeting with the World Bank's Regional Director for Sustainable Development for Europe and Central Asia, Sameh Naquib Vahba, to review the ongoing and potential areas of collaboration between Azerbaijan and the World Bank. Both sides expressed their satisfaction with the progress made in joint projects aimed at boosting economic diversification and infrastructure development in Azerbaijan.
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Azerbaijan officially presented the updated MyGov digital government platform today in the capital city of Baku, marking a significant milestone in the nation’s ongoing digital transformation.
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