Azerbaijan, Baku / corr. Trend I.Khalilova / A Code of corporative management will be devised within the Memorandum of Intentions signed between Azerbaijan Investment Company JSC (AIC) and International Finance Corporation (IFC) on 9 March, the Head of the project on development of corporative management in Azerbaijan, Charles Kenfield, said.
"We discussed this issue and we consider that such document may be profitable for the Government of Azerbaijan in improving the legislation because the Code will reflect methodology corresponding for the country," Kenfield said. According to AIC Executive Director, Anar Akhundov, he will present a book of rules reflecting the criteria and concrete steps to apply international standards of corporative management.
"Applying good practice of corporative management in the local companies will raise the interest of the foreign investors, as well as attractiveness of the non-oil sector," Akhundov said.