The State Investment Company of Azerbaijan (SICA)will be established in 2006. It was said during the consideration of the budget package for 2006 at the Milli Majlis (Parliament)
on Thursday, Trend reports.
The parliament supposes to allocate 90m manats from the public budget for 2006 to formation of statutory capital of the Company. The funds will enter from the State Oil Fund.
All investments from the public budget are supposed to be put through the SICA.
MPs also stated about expediency of use of oil incomes for development of private sector, the share of which comprises 44.5% in the public budget.