Corporate Management Code Designed in Azerbaijan
Azerbaijan, Baku, 25 June / corr. Trend U.Ismayilova / The International Finance Cooperation (IFC) will render assistance in the development of the Corporate Management Code in Azerbaijan within the framework of Phase 2 of the project on corporate management, Caroline Bright, the project director said.
"The Corporate Management Code will contribute to introduce the corporate management at all companies and enterprises in the country," Bright said.
At present, the Azerbaijani Economic Development Ministry is designing the Corporate Management Code and initial project will be presented to the government in autumn, Sanan Tapdigov, the head of the Administration of the Ministry, said.
According to Tapdigov, the Code is designed under the regular contacts with the company. Tapdigov said that it was planned to develop a conception on corporate management, and to improve operating laws on the basis of corporate management rule, after the development and adoption of this Code.
On 25 June the IFC presented Phase 2 of the project on corporate management in Azerbaijan, realized with the support of the State Secretariat of the Swiss Economic Communication Organization - (SECO). The IFC intends to corporate with private banks, insurance companies and other financial institutes of micro financing in the second phase of the project. Phase 2 of the project on corporate management in Azerbaijan costs more than $4mln.
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