The state investment company will be established in Azerbaijan. About $100 million is planned to allocate from the state oil budget of Azerbaijan for its capitalization, the Finance Minister Avez Alekperov told Trend.
The company will finance implementation of projects in Azerbaijan, particularly, large, potentially targeted ones and create new jobs. Establishing of the company is scheduled for the next year.
"The investment company will function beyond any department. Its composition and structure are not defined yet. It will be structured of the representatives of the Ministry of Economic Development, Finance Ministry, the State Oil Fund and etc.
The company is not supposed to be funded by the country’s budget. The final issues related to the establishing of the company will be clarified in 3-4 months, when the relevant decree will be signed, its regulations will be prepared and etc”, Alekperov noted.