Azerbaijan Investment Company Intends to Set Up Joint Companies for Technical Assessment through Support of EBRD and IFC

Business Materials 7 December 2006 17:47 (UTC +04:00)

Azerbaijan Investment Company intends to establish partner relations with the European Bank for Reconstruction and Development (EBRD) and International Financial Corporation (IFC), Trend reports.

We can create certain base that may help to establish several companies specialized in holding technical assessments and preparing feasibility study, the Deputy Executive Director of the Company, Riyad Gasimov said.

Presently the Company is holding the assessment of various spheres of non-oil sector that are considered as priorities for allocating investments. However, the work is carried out with the participation of the international companies. It is important to attract large organizations that have experience in feasibility study. There is no company in Azerbaijan that can hold the market and risk assessment. We try to attract international organization for these purposes. We entered the International Association of Venture Capital and I think that we will attract consultants for the preparation of the feasibility study, Gasimov said.

Azerbaijan International Company has been created in accordance with the decree of the Azerbaijani President dated to March 30, 2006 to support the investments allocated for the development of the non-oil sector and renewal of the material and technical base of the enterprises functioning in this sphere.