The Azerbaijani Investment Company, public corporation, created by the March 30 decree of the Head of State on Additional measures to encourage the investment activities, might be a shareholder of both state and private companies. Importantly, investors have to be attracted to the sectors requiring revival, the Economic Development Minister, head of the corporation, Heydar Babayev told, Trend reports citing the ANS TV channel.
The company will have $90m of founding capital. Although, this amount might be increased in future. The founding capital amount is not equal to the total finances available for the company. This capital is needed to attract investments, the
Minister said.
There are sectors, which are not interesting for investors, but their revival is vital for the State. The Investment Company will take part in such operations. There are also some other forms. For example, the Investment Company may create some sector and then with the help of a stock market or some other means attract foreign and local companies to invest in this sector, the Minister said.
The works to organize this company will start the next week. The Company `s founding capital will be formed by the State Oil Fund of Azerbaijan.