Рђssociation of Azerbaijan leasing companies intends to apply to government for financial support
The Azerbaijan Association of leasing companies intends to apply to the governemnt for the financial support for making leasing services, the Association told Trend. Particularly, the assistance from the National Fund for support of Entrepreneurship, which has the most acceptable conditions is suggested. Apart from this, the Leasing Association holds talks with foreign leasing companies for signing the cooperation agreement.
This week it signed the agreement with the Leasing Association of Uzbekistan and signing with the Russian Association es expected soon. The agreement will facilitate setting up relations between the Azerbaijan and Uzbek businessmen, impelemntation of projects.
The Azerbaijan Association has invited the consultant, the expert from the Canadas KECO organization Lawrence Camming, who thinks, much is to be done for the development of the leasing services market and protecting interests of entrepreneurs. He will assist in institutional building, in particular, in elaborating the legal documents, the issues of interrelations between the companies, the Association with members, civilized lobbying of the Associations interests at the state level and etc.
The Association acknowledges availability of problems which impede the activities of the leasing companies.
The leasing companies are mostly carrying out activities on the account of their inner resources, involved from the local banks. However, they are not profitable.
Despite all these difficulties last year the market of leasing services received certain development. The financial portfolio of all leasing companies for 2005 exceeded $23 million, and the consolidated amount of authorized capitals is $4,3 million. The contracts signed are 256, the most part of which is in the building sector (33%). Рўransport sector cover 26%, agriculture 18,4%, production 3%.