True today may become irrelevant tomorrow, so the market should be able to adapt to new conditions, Chief Adviser to the World Bank (WB) for the securities market Ketut Ariadi Kutsuma said at the presentation of the law of Azerbaijan Republic "On the Securities Market."
According to him, the entry into force of the new regulations will create a solid foundation for the development of the capital market, investor protection and safety. Nevertheless, the new law is not enough, and good infrastructure and proper implementation is required. This requires a well thought-out strategy for the development of the market, the creation of which would be conducted directly with the representatives of market.
"Regulating the capital market must take into account the needs of investors and learn if large, medium or small companies should be brought to the market. It is also important to learn who most needs the issue of shares or bonds," said the representative of the World Bank. --17D-
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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