The list of state-owned companies and enterprises to be managed by the Azerbaijan Investment Holding (EIB), as well as state-owned companies has been approved. President Ilham Aliyev has signed a decree on ensuring the activities of the Azerbaijan Investment Holding. According to the decree, the list of state-owned companies and enterprises to be transferred to the management of the Azerbaijan Investment Holding, as well as state-owned companies was approved. - State Oil Company of the Republic of Azerbaijan
- "Azerbaijan Airlines" Closed Joint-Stock Company - “Azerbaijan Railways” Closed Joint-Stock Company
- “Azerbaijan Caspian Shipping” Closed Joint-Stock Company
- “Baku Metro” Closed Joint-Stock Company - AzerGold Closed Joint-Stock Company
- “Azerenergy” Open Joint Stock Company - “Azersu” Open Joint Stock Company - “Azerishig” Open Joint Stock Company
- Azerbaijan Amelioration and Water Resources Open Joint-Stock Company - Azercosmos Open Joint Stock Company
- "International Bank of Azerbaijan" Open Joint Stock Company
- “Azer-Turk Bank” Open Joint Stock Company
- “Azeristiliktechizat” Open Joint Stock Company
- "Clean City" Open Joint Stock Company The following bodies subordinated to the Ministry of Transport, Communications and High Technologies of the Republic of Azerbaijan: - “Baku International Sea Trade Port” Closed Joint-Stock Company
- “Aztelekom” Limited Liability Company - “Azerbaijan International Telecom” (AzInTelecom) Limited Liability Company
- “Azerpocht” Limited Liability Company
- “Baku Telephone Communication” Limited Liability Company - State Insurance Commercial Company of the Republic of Azerbaijan. The powers provided for in the Charter of the Azerbaijan Investment Holding to manage the listed state-owned companies and enterprises, as well as state-owned companies, shall be transferred to the EEU from the date of transfer of these state-owned enterprises to management, except as otherwise provided by the President. The costs of organizing and maintaining the ECHR are funded from the following sources:
- at the expense of the state budget for the first 3 years (taking into account the funds allocated to the authorized fund of the ECHR)
- by paying 20% of the annual net profit of state-owned enterprises to the ECHR - from other sources not prohibited by law. The Cabinet of Ministers has been instructed to prepare and submit to the President proposals on bringing the acts of the President of the Republic of Azerbaijan in line with this decree within three months. Also, compliance of normative legal acts of the Cabinet of Ministers with this decree must be ensured within 3 months and the President of the Republic of Azerbaijan must be informed. The Cabinet of Ministers will monitor the compliance of normative legal acts of central executive bodies with this decree and will inform the President of the Republic of Azerbaijan about its implementation within 5 months. The Ministry of Finance must provide the funds required for the organization and maintenance of the ECHR in the draft state budgets for the coming years in accordance with sub-clause 2.2.1 of this decree. Prior to the transfer of the listed state-owned enterprises to management, they must submit their proposals on the application of advanced corporate governance principles and management improvements to the EBRD within 2 months. The Ministry of Justice shall ensure 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.
- "Azerbaijan Airlines" Closed Joint-Stock Company - “Azerbaijan Railways” Closed Joint-Stock Company
- “Azerbaijan Caspian Shipping” Closed Joint-Stock Company
- “Baku Metro” Closed Joint-Stock Company - AzerGold Closed Joint-Stock Company
- “Azerenergy” Open Joint Stock Company - “Azersu” Open Joint Stock Company - “Azerishig” Open Joint Stock Company
- Azerbaijan Amelioration and Water Resources Open Joint-Stock Company - Azercosmos Open Joint Stock Company
- "International Bank of Azerbaijan" Open Joint Stock Company
- “Azer-Turk Bank” Open Joint Stock Company
- “Azeristiliktechizat” Open Joint Stock Company
- "Clean City" Open Joint Stock Company The following bodies subordinated to the Ministry of Transport, Communications and High Technologies of the Republic of Azerbaijan: - “Baku International Sea Trade Port” Closed Joint-Stock Company
- “Aztelekom” Limited Liability Company - “Azerbaijan International Telecom” (AzInTelecom) Limited Liability Company
- “Azerpocht” Limited Liability Company
- “Baku Telephone Communication” Limited Liability Company - State Insurance Commercial Company of the Republic of Azerbaijan. The powers provided for in the Charter of the Azerbaijan Investment Holding to manage the listed state-owned companies and enterprises, as well as state-owned companies, shall be transferred to the EEU from the date of transfer of these state-owned enterprises to management, except as otherwise provided by the President. The costs of organizing and maintaining the ECHR are funded from the following sources:
- at the expense of the state budget for the first 3 years (taking into account the funds allocated to the authorized fund of the ECHR)
- by paying 20% of the annual net profit of state-owned enterprises to the ECHR - from other sources not prohibited by law. The Cabinet of Ministers has been instructed to prepare and submit to the President proposals on bringing the acts of the President of the Republic of Azerbaijan in line with this decree within three months. Also, compliance of normative legal acts of the Cabinet of Ministers with this decree must be ensured within 3 months and the President of the Republic of Azerbaijan must be informed. The Cabinet of Ministers will monitor the compliance of normative legal acts of central executive bodies with this decree and will inform the President of the Republic of Azerbaijan about its implementation within 5 months. The Ministry of Finance must provide the funds required for the organization and maintenance of the ECHR in the draft state budgets for the coming years in accordance with sub-clause 2.2.1 of this decree. Prior to the transfer of the listed state-owned enterprises to management, they must submit their proposals on the application of advanced corporate governance principles and management improvements to the EBRD within 2 months. The Ministry of Justice shall ensure 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.
