Enterprises Have Become Profitable and Keep Corporative Management Standards Head of Azeri State Securities Committee
The State Securities Committee at the President of Azerbaijan confirms the decrease of the joint-stock companies which break the rights of the investors, Trend reports. If in 2006, 396 complaints were submitted, 392 statements to the State Committee, in 2005, 308 appeals were submitted by 538 investors, the Chairman of the State Securities Committee, Gunduz Mammadov, stated. Although an increase is observed in the number of statements, the complaints are received mainly in relation with the same joint stock companies, Mammadov said.
According to Mammadov, the Juridical Department of the Committee has strengthened the activities in this respect. The notable fact is that there has been an increase in the number of the joint-stock companies which provide stable dividends.
If 2-3 years ago, we spoke of 15-30 joint-stock companies, at present there are nearly 100 joint-stock companies which pay off stable dividends. In addition, the enterprises have become profitable and they keep to the corporative management standards, Mammadov stated. Currently nearly 1,500-2,000 joint-stock companies function in Azerbaijan, and amongst them, 100 joint-stock companies which pay off dividends are considered as small indicators and the process is continuing. According to Mammadov, this is justified through the growth of business activity within the country.