Azerbaijan Industrial Corporation aiming to restructure portfolio

Business Materials 25 February 2021 08:53 (UTC +04:00)
Azerbaijan Industrial Corporation aiming to restructure portfolio

BAKU, Azerbaijan, Feb. 25

By Fidan Babayeva - Trend:

The Azerbaijan Industrial Corporation (AIC) OJSC achieved growth in the local entities' investment attractiveness for entrepreneurs, Deputy Director of the AIC Strategic Development and Commerce Department Rustam Akbarli told Trend.

According to Akbarli, this was due to increased competitiveness of products manufactured by the subsidiary enterprises, expanded use of modern technologies at enterprises and other improvement measures.

Besides, as he noted, the corporation took certain steps for cooperation with private sector.

The AIC’s representative said that in order to continue the current policy in the future, it may be appropriate to consider such issues as restructuring the corporate portfolio and privatization of certain enterprises.

"It should be noted that since the Azerbaijan Industrial Corporation OJSC operates on the basis of commercial principles, the steps taken by the corporation are aimed at increasing earnings per share and increasing the revenues to the state budget," Akbarli stressed.

He stated that healthy and balanced economic growth creates a solid foundation for the country's sustainable development.

“In order to achieve economic growth, ensuring the activities of state-owned companies on the basis of commercial principles, increasing the level of profitability and increasing the economic efficiency of their activities can be called one of the main points, " Akbarli added.

He also emphasized that strengthening cooperation between the public and private sectors and increasing the share of the private sector in financing the non-oil sector can be considered appropriate for sustainable economic growth.


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