27th International Caspian Oil & Gas Conference

3 - 4 June 2020

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Caspian Oil & Gas Conference - President: SOCAR may be privatized in the future

President: SOCAR may be privatized in the future
19.04.2016

"Corporate management is a very important issue nowadays."

According to Oxu.Az, President of Azerbaijan Ilham Aliyev made the due statement during the meeting with a delegation of the US Commercial Chamber in Azerbaijan.

The president noted that the heads of such enterprises have already been given due instructions and transformation process is underway is some of them.

"There are already positive changes in SOCAR, in Caspian Shipping Company, and I do hope that other companies will work in this direction too. Their only difference from private companies will be that their stocks will belong to the state," Ilham Aliyev said.

According to the head of state, this is understandable, since such enterprises are of strategic importance.

"Probably, time will come when their stocks are put for sale, I suppose. But considering the past, I would say, there is a thought that they must belong to the state. When there is no gas in a village, people address the state structures.

That is, one day part of these companies will be put for sale, but corporate management is a very important issue nowadays.

As for the matter of transparency, I have repeatedly expressed my view on this issue. It is important for every country and company. We will continue our work in this sphere," the head of state said.


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