BAKU, Azerbaijan, November 13. The main task of the ministry is to ensure the widespread use of benefits and new incentive tools in those areas of activity that create high-added value in the economy and are focused mainly in the private sector, Azerbaijani Economy Minister Mikayil Jabbarov said during the discussion of the state budget at today's meeting of the Milli Majlis (Parliament), TurkicWorld reports.
Jabbarov noted that another important task is to increase the efficiency of state-owned companies by restructuring their activities and instilling dividend payments into the state budget.
"This is already reflected in the state budget and is fundamentally related to the results achieved in the activities of state-owned companies with the creation of an Investment holding. It is no coincidence that out of 12 companies that joined the holding last year, eight of them are already able to pay dividends. The total operating profit of these companies exceeded 15 billion manat ($8.8 billion) last year. This figure amounted to about 4-5 billion manat ($2.4-2.9 billion) in 2020. The state budget for next year already provides for significant dividend payments for Azerbaijan's SOCAR," the minister said.
"We consider it important to develop a dividend policy for other state-owned companies in the coming years. Work in this direction continues," Jabbarov said.
