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Azerbaijan Industrial Corporation talks import-substituting production, new jobs

Business Materials 7 November 2018 11:22 (UTC +04:00)
Azerbaijan Industrial Corporation OJSC (AIC) will do everything possible for the development of Azerbaijan's economy
Azerbaijan Industrial Corporation talks import-substituting production, new jobs

Baku, Azerbaijan, Nov. 7

By Taleh Mursagulov - Trend:

Azerbaijan Industrial Corporation OJSC (AIC) will do everything possible for the development of Azerbaijan's economy and will support the ongoing economic reforms in the country, the AIC Director General Kamran Nabizade told Trend.

A year has passed since the establishment of the AIC, and Nabizade noted that amidst economic reforms, the establishment of the AIC was a very important event.

According to him, the goals of establishment are to create effective management and ensure profitability of enterprises, which are transferred to the balance of the corporation, as well as the use of innovative technologies in the enterprises, creation of reporting and accounting system, bringing the enterprises to a new level.

"The purpose of creating an industrial corporation, as part of a strategic roadmap, is the efficient use of state property. To this end, 52 state enterprises were handed over to the management of the AIC," Nabizade said.

The director general stressed that the AIC is trying to contribute to the development of the non-oil sector of Azerbaijan.

He also touched upon the work done by the corporation in 2018. According to Nabizade, at the first stage, international assessment companies carried out work on enterprises, which were transferred to the management of the AIC. New management systems are being created and young personnel are attracted in these enterprises.

"At the second stage, it is envisaged to expand the list of enterprises that are part of the AIC and to draw up a strategy for the existing enterprises. We are carrying out serious work in this direction. The structure of the AIC includes various enterprises that work in various directions. And this strategy will be prepared in various directions and presented to the government," Nabizade said.

According to the him, the main goal of the AIC is to bring these enterprises to a profitable level of production.

"The main goal of the strategy is to expand production and strengthen cooperation. It means creating new jobs, solving social issues, increasing the export of Azerbaijani products, as well as replacing imported products with domestic products," Nabizade added.

In addition, the director general noted that thanks to the corporation, 17 enterprises have been established by restructuring state property.

The director general said that work is underway to modernize the Azeripek silk factory in Shaki district and ASK Tekstil in Sumgayit city.

He noted that tobacco fields have been increased in accordance with the state program on the development of tobacco growing.

"In three months, a drying facility for tobacco was set up in Balakan district, where 60 drying chambers are installed," Nabizade said, stressing that unlike previous years, this year work was carried out by an Azerbaijani company.

According to him, the Balakan facility is already operating. Approximately 300 jobs places were created at the site. In general, the corporation created about 1,000 new jobs, including permanent and seasonal positions.

"We expect a significant increase in the number of jobs positions," Nabizade said.

As the director general said that as a result of the state support, funds were allocated to Azerpambig, cotton producing enterprise.

"We have reinforced the material and technical base of Azerpambig. So, 17 combines, as well as various other equipment have been purchased," the director general said.

He noted that it will allow to increase the acreage in the future, and also contribute to improving cotton productivity, and in general, modernization of cotton processing is also expected.

"These all will contribute to a transition from extensive to intensive production methods," Nabizade added.

The director general of the AIC mentioned that the strategy for the development of enterprises provides for the supplying Azerbaijan with raw aluminum, as well as in the form of ingots and shapes. Along with this, it is also planned to start production of household appliances.

Nabizade stressed that as a result of these measures, Azerbaijan will be able to start production of a number of products that are presently imported from abroad.

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