Why is Azcon important for Azerbaijan?AZCON represents an important innovation for Azerbaijan, creating conditions for a comprehensive modernization of the country's transport and communications infrastructure. The holding is intended to serve as a tool for more sustainable development of national resources, reducing costs, and enhancing management transparency.
How is Azcon funded?The holding’s activities will be funded through contributions from the managed enterprises, as stipulated by the President of Azerbaijan, as well as other sources permitted by law. This setup is intended to enable AZCON to cover its operating expenses independently without requiring additional budgetary support. What Will Be AZCON’s Role?.
What companies are under Azcon's control?Among them are “Azerbaijan Airlines” (AZAL), “Azerbaijan Railways,” “Caspian Shipping Company,” and “Baku Metro,” among others. The communications group under AZCON’s control includes “Aztelekom,” “AzInTelecom,” “Azərpoçt,” as well as the space agency “Azərkosmos.”.
How many companies does Azcon manage?Operating as a public legal entity, AZCON will manage 13 major enterprises and organizations, including airlines, railways, maritime and ground transportation, and telecommunications companies. Among them are “Azerbaijan Airlines” (AZAL), “Azerbaijan Railways,” “Caspian Shipping Company,” and “Baku Metro,” among others.
What is Azcon?The primary goal of AZCON is to consolidate the management of major transportation and communications companies in Azerbaijan to enhance their competitiveness, financial sustainability, and economic efficiency.
Who oversees Azcon?Strategic oversight of AZCON is entrusted to a Supervisory Board of seven members, chaired by Rashad Nabiyev, Azerbaijan’s Minister of Digital Development and Transport. The board’s primary functions include approving the budgets of subsidiary enterprises, overseeing their performance, and appointing leadersh
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Nov 9, 2024 · AZCON represents an important innovation for Azerbaijan, creating conditions for a comprehensive modernization of the country''s transport and
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AZCON represents an important innovation for Azerbaijan, creating conditions for a comprehensive modernization of the country's transport and communications infrastructure. The holding is intended to serve as a tool for more sustainable development of national resources, reducing costs, and enhancing management transparency.
The holding’s activities will be funded through contributions from the managed enterprises, as stipulated by the President of Azerbaijan, as well as other sources permitted by law. This setup is intended to enable AZCON to cover its operating expenses independently without requiring additional budgetary support. What Will Be AZCON’s Role?
Among them are “Azerbaijan Airlines” (AZAL), “Azerbaijan Railways,” “Caspian Shipping Company,” and “Baku Metro,” among others. The communications group under AZCON’s control includes “Aztelekom,” “AzInTelecom,” “Azərpoçt,” as well as the space agency “Azərkosmos.”
Operating as a public legal entity, AZCON will manage 13 major enterprises and organizations, including airlines, railways, maritime and ground transportation, and telecommunications companies. Among them are “Azerbaijan Airlines” (AZAL), “Azerbaijan Railways,” “Caspian Shipping Company,” and “Baku Metro,” among others.
The primary goal of AZCON is to consolidate the management of major transportation and communications companies in Azerbaijan to enhance their competitiveness, financial sustainability, and economic efficiency.
Strategic oversight of AZCON is entrusted to a Supervisory Board of seven members, chaired by Rashad Nabiyev, Azerbaijan’s Minister of Digital Development and Transport. The board’s primary functions include approving the budgets of subsidiary enterprises, overseeing their performance, and appointing leadership.
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