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DECREE OF THE PRESIDENT OF THE REPUBLIC OF AZERBAIJAN
On maintaining the activity of Azerbaijan Investment Holding

Guided by paragraph 32 of Article 109 of the Constitution of the Republic of Azerbaijan, in order to maintain the implementation of the Decree of the President of the Republic of Azerbaijan No. 1120 dated August 7, 2020, I decide:

To approve the list of state-owned companies and enterprises, as well as economic societies with state-owned shareholding (addendum).

To determine that:

      2.1. authorities considered in the Charter of the Azerbaijan Investment Holding (hereinafter - AIH) related to the management of state-owned companies and enterprises, as well as economic societies with state-owned shareholding (hereinafter – state enterprises) specified in the list approved by Part 1 of this Decree, except the cases determined by the President of the Republic of Azerbaijan, these state enterprises shall be transferred to AIH from the date of their transfer under its management.

     2.2. The costs of organizing and maintaining the activities of AIH are financed from the following sources:

2.2.1. through the state budget during the first 3 years (with consideration of resources allocated for AIH statutory fund);

2.2.2. by paying 20 percent of annual net profit of the state enterprises given under the AIH governance to AIH;

2.2.3. other sources not prohibited by the law.

The Cabinet of Ministers of the Republic of Azerbaijan:

3.1. to prepare and submit to the President of the Republic of Azerbaijan the proposals on bringing the acts of the President of the Republic of Azerbaijan in line with this Decree within three months;

3.2. to provide compliance of normative legal acts of Cabinet of Ministers of the Republic of Azerbaijan with this Decree within three months and to inform the President of the Republic of Azerbaijan;

3.3. to retain control over compliance of normative legal acts of the central executive bodies with this Decree and inform the President of the Republic of Azerbaijan of its implementation within five months;

3.4. to resolve other issues arising from this Decree.

The Ministry of Finance of the Republic of Azerbaijan:

4.1. to maintain funding in accordance with sub-clause 2.2.1 of this Decree;

4.2. to consider resources required for organizing and ensuring the AIH activities in the state budget drafts of coming years in accordance with sub-clause 2.2.1 of this Decree;

4.3. to resolve other issues arising from this Decree.

to submit to AIH the proposals for applying the principles of progressive corporate management and improving the management until transferring the state enterprises specified by Part 1 of this Decree under its management within two months.

The Ministry of Justice of the Republic of Azerbaijan shall maintain compliance of normative legal acts and normative acts of central executive bodies with this Decree and inform the Cabinet of Ministers of the Republic of Azerbaijan.

 

 

Ilham Aliyev,

President of the Republic of Azerbaijan

 

Baku city, November 5, 2020

                     No. 1174

 

 

 


 

 

Approved by Decree No. 1174 of November 5, 2020, issued by the President of the Republic of Azerbaijan

 

 

 

List of state-owned companies and enterprises, as well as economic societies with state-owned shareholding to be governed by Azerbaijan Investment Holding

 

1.State Oil Company of the Republic of Azerbaijan

2.“Azerbaijan Airlines” Closed Joint Stock Company

3.“Azerbaijan Railways” Closed Joint Stock Company

4.“Azerbaijan Caspian Shipping” Closed Joint Stock Company

5.“Baku Metropolitan” Closed Joint Stock Company

6.“AzerGold” Closed Joint Stock Company

7.“Azerenergy” Open Joint Stock Company

8.“Azersu” Open Joint Stock Company

9.“Azerishig” Open Joint Stock Company

10.Azerbaijan Amelioration and Water Handling Facilities Open Joint Stock Company

11.“Azercosmos” Open Joint Stock Company

12.“International Bank of Azerbajan” Open Joint Stock Company

13.“Azer-Turk Bank” Open Joint Stock Company

14.“Azeristiliktechizat” Open Joint Stock Company

15.“Təmiz Şəhər” Open Joint Stock Company

16.Following organizations subordinated to the Ministry of Trasnport, Communications and High Technologies of the Republic of Azerbaijan:

16.1. “Baku International Sea Trade” Closed Joint Stock Company

16.2. “Aztelekom” Limited Liability Company

16.3. “Azerbaijan International Telecom” (AzInTelecom)” Limited Liability Company

16.4. “Azerpocht” Limited Liability Company

16.5. “Baku Telefon Rabitesi” Limited Liability Company

16-1. “BakuBus” Limited Liability Company subordinated to the Baku Transport Agency

17.State Insurance Commerce Company of the Republic of Azerbaijan.