The head of the Joint-Stock Company Azerbaijan State Investment Company (ASIC) is going to present the project of rules of using the finances of investment companies to the confirmation of the Supervisory Council.
While preparation of the project, we kept the key principles of the activities of investment companies in the international practice. In addition, the rules reflect recommendations of the consultant, which are provided by the European Bank for Reconstruction and Development (EBRD), Executive Director of ASIC Anar Akhundov told Trend.
According to him, ASIC also used the experience of creating and managing investment funds in western and eastern Europe, Kazakhstan and Russia.
Active works will start after confirmation of the rules. Yet we hold the analyses of the situation in non-oil market to determine prospects and priorities. Besides, it is planned to hold the presentation of the investment companies for entrepreneurs, head of ASIC underlined.
ASIC was created according to the order of the Azerbaijan President to support the investment allocations for the development of non-oil sector, renew material and technological base of the enterprises functioning in this sphere.
Today, the paid-up authorized fund of ASIC amounts to AZN 20 mln, and the stated capital AZN 90 mln., which will be gradually paid at the expense of State Oil Fund of Azerbaijan.