Azerbaijan Investment Holding

Azerbaijan Investment Holding
Agency overview
Formed	7 August 2020
Headquarters	6 Azerbaijan Avenue, Baku, Azerbaijan Republic
Website	aih.gov.az

Azerbaijan Investment Holding (Azerbaijani: Azərbaycan İnvestisiya Holdinqi (AIH) is a public legal entity that carries out activities in the field of management of state-owned companies and enterprises, economic enterprises with a state share of participation based on common principles.

History[]

The Azerbaijan Investment Holding was established by the Decree of President of Azerbaijan Ilham Aliyev dated August 7, 2020. According to this Decree, AIH has been established to manage state-owned companies and enterprises, as well as economic societies with a state share, based on unified principles, to improve their activities, together with increasing the transparency and economic efficiency of their investment programs, increasing competitiveness, improving financial health and sustainability.

The main goal of AIH is to increase the effectiveness of the structural reforms carried out in Azerbaijan.

The authorized capital of the Azerbaijan Investment Holding is ten million manats.[1]

According to the Decree of the President of Azerbaijan list of state-owned enterprises given under management of AIH was approved.

According to the Decree of the President Ilham Aliyev dated February 12, 2021, closed joint stock companies “Azerbaijan Airlines”, “Azerbaijan Railways”, “Baku Metro” and the limited liability company (LLC) “BakuBus” which is subordinate to Baku Transport Agency, were transferred to the management of AIH.

Management[]

The governing bodies of AIH are the Supervisory Board and Management Board. The Supervisory Board consists of five members – the Chairman of the Board and other members appointed and dismissed by the President of the Republic of Azerbaijan.[2]

The Management Board consists of five members - the Chairman of the Executive Board and other members. The Chairman of the Management Board is appointed and dismissed by the President of the Republic of Azerbaijan. One of the members of the Board is also AIH CEO. Other members of the Executive Board, including CEO, shall be appointed and dismissed by the Supervisory Board on the recommendation of the SB Chairman .^[1]

The Chairman of the Supervisory Board is the Prime Minister of Azerbaijan Ali Asadov.^[2]

Members of the Supervisory Board:

Assistant to the President - Head of the Department for Economic Affairs and Innovation Development Policy of the Presidential Administration of Azerbaijan
Assistant to the President - Head of the Department of Economic Policy and Industry of the Presidential Administration of Azerbaijan
Minister of Finance of Azerbaijan.^[3]^[4]

AIH Business Profile[]

According to Charter of AIH the business profile (activity directions) of company is as follows:

to ensure the development of the relevant area;
to participate in establishment of the state policy in the relevant area, to ensure the enforcement of the said policy;
to cooperate with concerned state authorities (bodies) in the relevant area, to participate in development and implementation of the proposals;
to organize the management in state entities using advanced international practice;
to improve financial condition and stability of the state entities, and to that effect, to manage their financial resources, as well as the attraction of foreign debts based on effective criteria;
to attract private investments to the service markets where state entities are operating and, to that effect, to stimulate the public-private partnership;
to define and monitor performance indicators of state entities in order to evaluate their operation efficiency;
to take measures for optimization of expenses of state entities and assurance of their financial transparency;
to increase the competitive ability of state entities at the international level;
to control efficient usage of investments allocated by the state for state entities;
to participate in the preparation of the privatization (whole or in part) of state entities;
to operate in any other direction defined by AIH Charter

AIH Activity[]

By the Decree of the President of the Republic of Azerbaijan dated [3], a number of state-owned companies and enterprises with a state share are included in the management of AIH.

A change has been made in the “List of state-owned companies and enterprises, as well as business entities with a state share, to be given to the management of Azerbaijan Investment Holding”, (https://president.az/articles/51298) confirmed with [4].

On Mai 8,2021 President made Amendments to the Decree “On improving the structure of the State Oil Company of the Republic of Azerbaijan” (https://president.az/articles/51420). According to the amendments, the structure of SOCAR shall be approved by the Azerbaijan Investment Holding (“AIH”) in coordination with the President of the Republic of Azerbaijan.

State-owned enterprises under AIH management[]

State Oil Company of Azerbaijan
"Azerbaijan Airlines" CJSC
"Azerbaijan Railways" CJSC
"Azerbaijan Caspian Shipping Company" CJSC
"Baku Metro” CJSC
"Azergold" CJSC
"Azerenerji" OJSC
·"Azersu" OJSC
"Azerishig" OJSC
"Azerbaijan Amelioration and Water Management” OJSC
"International Bank of Azerbaijan" OJSC
"Azer-Turk Bank" OJSC
"Azeristiliktedzhizat" OJSC
"Tamiz Shahar" OJSC
"Baku International Commercial Sea Port" OJSC
State Insurance Commercial Company of Azerbaijan
"BakuBus" LLC.^[5]

References[]

^ "C H A R T E R of the Azerbaijan Investment Holding". socar.az.
^ "Azərbaycan İnvestisiya Holdinqinə sədr təyin olundu". marja.az (in Azerbaijani). Retrieved 2021-04-18.
^ "M.B.Eynullayevin Azərbaycan İnvestisiya Holdinqinin İdarə Heyətinin sədri təyin edilməsi haqqında". www.e-qanun.az. Retrieved 2021-04-18.
^ "Azərbaycan İnvestisiya Holdinqinin Müşahidə Şurasının növbəti iclası keçirilib | Azərbaycan Respublikasının Nazirlər Kabineti". nk.gov.az (in Azerbaijani). 2021-04-18. Retrieved 2021-04-18.
^ "Azərbaycan İnvestisiya Holdinqinin idarəetməsinə veriləcək dövlət şirkətlərinin və müəssisələrinin, habelə dövlət payı olan təsərrüfat cəmiyyətlərinin siyahısı". azertag.az (in Azerbaijani). Retrieved 2021-04-18.

[1] "C H A R T E R of the Azerbaijan Investment Holding". socar.az.

[2] "Azərbaycan İnvestisiya Holdinqinə sədr təyin olundu". marja.az (in Azerbaijani). Retrieved 2021-04-18.

[3] "M.B.Eynullayevin Azərbaycan İnvestisiya Holdinqinin İdarə Heyətinin sədri təyin edilməsi haqqında". www.e-qanun.az. Retrieved 2021-04-18.

[4] "Azərbaycan İnvestisiya Holdinqinin Müşahidə Şurasının növbəti iclası keçirilib | Azərbaycan Respublikasının Nazirlər Kabineti". nk.gov.az (in Azerbaijani). 2021-04-18. Retrieved 2021-04-18.

[5] "Azərbaycan İnvestisiya Holdinqinin idarəetməsinə veriləcək dövlət şirkətlərinin və müəssisələrinin, habelə dövlət payı olan təsərrüfat cəmiyyətlərinin siyahısı". azertag.az (in Azerbaijani). Retrieved 2021-04-18.

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