TODAY.AZ / Business

AIC reveals information on its activities in 2018

07 November 2018 [16:16] - TODAY.AZ

By Azernews

By Abdul Kerimkhanov

The creation of an Azerbaijan Industrial Corporation is one of the important steps for the further development of the country's economy.

The main goals of the corporation are to increase the efficiency of state property management, to create favourable cooperation ties between enterprises that are under management, and to increase production potential.

The Corporation has been implementing its activities since 2017.

The Azerbaijan Industrial Corporation OJSC (AIC) will do everything possible for the development of Azerbaijan's economy and will support the ongoing economic reforms in the country, AIC Director General Kamran Nabizade told Trend.

He declared that the goals of establishment are to create effective management and ensure profitability of enterprises, which are transferred to the balance of the corporation, as well as the use of innovative technologies in the enterprises, creation of reporting and accounting system, bringing the enterprises to a new level.

"The purpose of creating an industrial corporation, as part of a strategic roadmap, is the efficient use of state property. To this end, 52 state enterprises were handed over to the management of the AIC," Nabizade said.

He stressed that the AIC is trying to contribute to the development of the non-oil sector of Azerbaijan.

Speaking of the work that was done by the corporation in 2018, he noted that at the first stage, international assessment companies carried out work on enterprises, which were transferred to the management of the AIC. New management systems are being created and young personnel are attracted to these enterprises.

"At the second stage, it is envisaged to expand the list of enterprises that are part of the AIC and to draw up a strategy for the existing enterprises. We are carrying out serious work in this direction. The structure of the AIC includes various enterprises that work in various directions. And this strategy will be prepared in various directions and presented to the government," Nabizade said.

He went on to say that the AIC aims to bring these enterprises to a profitable level of production.

"The main goal of the strategy is to expand production and strengthen cooperation. It means creating new jobs, solving social issues, increasing the export of Azerbaijani products, as well as replacing imported products with domestic products," Nabizade added.

In addition, the director general noted that thanks to the corporation, 17 enterprises have been established by restructuring state property.

Work is underway to modernize the Shepek silk factory Azeripek and Sumgayit ASK Tekstil, Nabizade declared.

He noted that tobacco fields have been increased in accordance with the state program on the development of tobacco growing.

"In three months, a drying facility for tobacco was set up in the Balakan region, where 60 drying chambers are installed," Nabizade said, stressing that unlike previous years, this year work was carried out by an Azerbaijani company.

He added that Balakan office is already operating. Approximately 300 jobs places were created at the site. In general, the corporation created about 1,000 new jobs, including permanent and seasonal positions.

"We expect a significant increase in the number of jobs positions," Nabizade said.

As the general director said, with the support of the state, Azerpamb?q enterprise was allocated funds.

"We have strengthened the material and technical base of this enterprise. 17 combines, as well as various equipment, were acquired," the director general noted.

Nabizade considers that this will allow increasing the acreage in future years, and also contribute to improving cotton productivity, and in general, modernization in the field of cotton processing is also expected.

“These all will mean a transition from extensive to intensive production methods,” the director general said.

"The strategy for the development of enterprises provides for the supply of aluminium to Azerbaijan as raw materials, as well as in the form of ingots and profiles. Along with this, it is planned to start production of household appliances," Nabizade noted.

Commenting on the results of these measures, he considers that it will be possible to launch production of a number of types of products locally that are currently imported from abroad.

The first anniversary of the activity of Azerbaijan Industrial Corporation OJSC, created on the basis of the decree of President Ilham Aliyev, was marked on November 6, 2018.

During this year, AIC carried out important activities aimed at increasing the volume of production and quality of industrial products, as well as at improving the material welfare of the population by creating new jobs in the country, especially in the regions.

Currently, AIC has 17 subsidiaries, covering various areas of the non-oil sector. As an example, a number of enterprises of socio-economic importance can be cited, including the Azerpambig Agro-industrial Complex, Azeripek LLC, Azeriminium LLC, ASK Shushe LLC, Azertabak LLC and other enterprises.

The management structure in the field of cotton was changed, the material and technical base was updated, new combines were purchased to pick cotton. Work is underway to educate farmers engaged in the field of tobacco growing on the sowing process, tobacco sowing areas have been increased, and the Balakan Tobacco Station has been completely renovated in three months. Work continues on the modernization of the enterprises of the Corporation for the production of aluminium and glass products, a strategic development plan for these enterprises is being developed.

The authorized capital of the company is 500 million manat ($294 million). The company passed state registration on December 8, 2017.


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