Major Azerbaijani holding develops five-year strategy
Azerbaijan, Baku, Aug.23 / Trend, A.Akhundov /
Group of companies AtaHolding, operating in Azerbaijan, develops a five-year strategy for further development, AtaHolding Supervisory Council head Ahmet Erentok told Trend on Tuesday.
"A five-year development strategy of the whole holding, including the bank, will be ready by late 2011," Erentok said.
He said the main directions of the strategy are development of banking sector and agriculture.
"We hold the policy, which includes control over expenditures, that is optimization of costs and investments, as well as preserving already achieved indicators," Erentok said.
He said the holding consists of 31 companies, about 20 of which are actively operating.
"Each company prepares own strategy, later submits it to the holding's strategy committee. The final version of the strategy is prepared here, after which it is approved by the Supervisory Council. No consultant is involved in preparation of the strategy," Erentok said.
AtaHolding, which started its activity in 2003, deals with investing of capital in various sectors of economy, financial and intellectual resources management, as well as corporate management. The holding's authorized capital is 83.9 million manat, and is mainly directed at the development of finances, information technologies, industry, services and tourism.
The official exchange rate is 0.7863 manat to $1 on Aug.23.