Details added (first version posted on 11:14)
Baku, Azerbaijan, June 12
By Anvar Mammadov – Trend:
The state enterprises play a special role in Azerbaijan’s economy, Country Manager for the World Bank Azerbaijan Office Naveed Hassan Naqvi said.
He made the remarks at the conference entitled "Promoting Transparency and Efficiency of State-Owned Enterprises in Azerbaijan" in Baku June 12.
“The activity of state enterprises is important for the economic sustainability of any country, including Azerbaijan,” he said.
"But at the same time, it is important for corporate governance to be developed at the state enterprises,” Naqvi added. “Transparency and effectiveness of the state enterprises’ activity should be further strengthened."
He added that the holding reforms on increasing transparency will strengthen Azerbaijan’s economy and help the country pass from the category of countries with average income to the category of high-income countries.
"These reforms are being successfully carried out in Azerbaijan, 16 out of 20 state enterprises have become public legal entities,” he added. “But it is necessary to continue working. The legal framework should be further developed and WB is ready to support Azerbaijan's aspirations."
The conference entitled "Promoting Transparency and Efficiency of State-Owned Enterprises in Azerbaijan", organized by the State Committee on Property Issues and WB, kicked off in Baku on June 12.
The representatives of the State Committee on Property Issues, WB, Ministry of Economy and Ministry of Finance, experts and representatives of public organizations attended the event.
The purpose of the conference was to increase transparency and efficiency in the management of state property and to expand the use of existing optimization methods.
---
Follow the author on Twitter: @Anvar_Mammadov