Azerbaijan Industrial Corporation holds discussions on draft business plan and budget for 2021
BAKU, Azerbaijan, Dec. 7
By Fidan Babayeva – Trend:
A videoconference meeting was held at the Azerbaijan Industrial Corporation OJSC to discuss the draft business plan and budget for 2021, Trend reports on Dec. 7 with reference to the Azerbaijan Industrial Corporation.
"The draft budget for 2021 in the coming days will be submitted to the supervisory board of Azerbaijan Industrial Corporation for approval," the message says.
The heads of the central office and subsidiaries of the corporation took part in the online meeting.
The actual indicators and final forecasts of the current year, as well as the negative impact of the spread of the COVID-19 pandemic on the business environment and economic activity both domestically and in the global market, were thoroughly analyzed during the discussions and the answers to the emerging questions were given.
"Taking into account these factors, business risks and optimization measures, as well as the work being carried out in the direction of exploring new business opportunities, the necessary instructions for the investment plan for 2021 were given to the subsidiaries," the message said.
President of the Republic of Azerbaijan Ilham Aliyev signed a decree on December 26, 2017, on the establishment of the Azerbaijan Industrial Corporation Open Joint Stock Company, the shares of which belong to the state.
The purpose of signing the decree is to increase the efficiency of state property management in connection with the application of the decree of the president of the Republic of Azerbaijan "On the approval of strategic roadmaps on the national economy and the main sectors of the economy", the formation of a reporting and control system based on the principles of corporate governance, the achievement of the establishment of beneficial cooperation ties between state-owned enterprises and increasing production capacity along the value chain.