Azerbaijan to raise output of industrial products in 2021

Business Materials 15 February 2021 14:03 (UTC +04:00)
Azerbaijan to raise output of industrial products in 2021

BAKU, Azerbaijan, Feb.15

By Fidan Babayeva - Trend:

The main priorities for Azerbaijan Industrial Corporation (AIC) OJSC for 2021 are expanding the range of investments aimed at generating more profit in the value chain and modernizing human capital, Farid Gadirli, chief international relations specialist at the AIC’s Strategic Growth and Commerce Department, told Trend on Feb.15.

According to Gadirli, the country’s agro-industrial complex plans to diversify its portfolio in 2021, as well as increase output of a wide range of products, taking into account current market requirements and trends.

"Currently, the corporation is doing serious work towards the development of existing enterprises and improving the quality and range of products,” he stressed.

“In pursuance of the National Priorities for Socio-Economic Development within ‘Azerbaijan 2030’ program approved by the country president’s decree dated February 2, 2021, a steadily growing competitive economy and a competitive human capital is among the priorities that must be implemented in the next decade," Gadirli said.

President 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 was 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.


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