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Presentation of Corporate Management Standards held in Baku

07 February 2011 11:10 (UTC +04:00)

Baku. Nijat Mustafayev â€“ APA-Economics. Today, the presentation of Corporate Management Standards has been held in Baku.

According to APA-Economics, head of the apparatus of the Ministry of Economic Development Samir Valiyev spoke about the importance of the Standards and noted that, this project had been developed by working group consisting of representatives of Economic Development Ministry, IFC and BSE: â€œThis project will support the development of entrepreneurship in Azerbaijanâ€.

Deputy Chairman of State Committee for Securities Ilgar Muradov stressed that the application of standards will be important in the spheres of shareholdersâ€™ rightsâ€™ protection, development of securities market and commercial organizations.

Swiss Ambassador to Azerbaijan Mrs. Sabine Ulmann and IFC representatives spoke about the importance of this project and noted the support of international organizations.

Head of the Economic Development Ministry Corporate Governance Department, Anar Hajizade stressed the support of this project on development of entrepreneurship in Azerbaijan: â€œThis project will also support to prevent the corruptionâ€.

Head of the Global Corporate Governance Forum Philip Armstrong and Anar ALiyev, IFC Deputy Project Manager informed about the importance of these standards.

Note that, Azerbaijan Corporate Management Standards reflects the protection of shareholders, rights, creation of balance among the administrative bodies, securement of transparency and other leading corporate management principles like these.