Mikayil Jabbarov: Steady improvement in state-owned companies brings them closer to privatization

A certain environment has been created in Azerbaijan for foreign and local investments due to the changes made in the management of state-owned companies in the last two years, Economy Minister Mikayil Jabbarov said at the conference on "Heydar Aliyev and Azerbaijan's tax system: toward new challenges".

"If we see the results of the companies under the management of Azerbaijan Investment Holding, in 2020, the total assets of the portfolio of state companies was 50 billion manats ($29.4 billion), while it was 120 billion manats ($70.6 billion) last year. There is not one company here, but state companies that are selected by their particular weight. But if we look separately, we see a steady improvement in the results of the State Oil Company of Azerbaijan (SOCAR), Azerbaijan Caspian Shipping CJSC (ASCO), and all other state-owned companies. This brings the possibility of privatization in strategic sectors closer to us." said Jabbarov.