The first meeting of the Supervisory Board of Azerbaijan Railways CJSC was held
The first meeting of the Supervisory Board of Azerbaijan Railways CJSC was held in accordance with the Order of the President of the Republic of Azerbaijan dated March 30, 2021.
The meeting was chaired by the Chairman of the Supervisory Board, Minister of Transport, Communications and High Technologies, Rashad Nabiyev. The meeting was attended by members of the Supervisory Board, Chairman of the Azerbaijan Railways CJSC Javid Gurbanov and members of the Board.
First of all, the Chairman and members of the Supervisory Board of Azerbaijan Railways CJSC thanked the President for the confidence.
Chairman of the Supervisory Board, Rashad Nabiyev stressed at the meeting that intensive work carried out during the recent years on the expansion, modernization and renewal of the railway network of the country in order to improve the transport infrastructure of the country, including the railway transport system in accordance with international standards. It was also stated that Azerbaijan has ensured active participation in the implementation of international and regional transport corridors, as well as the Baku- Tbilisi- Kars and North- South projects.
Azerbaijan Railways CJSC plays an important role in strengthening the competitiveness and realization of the transit potential of the country at the regional level. Rashad Nabiev also noted that the joint-stock company should work more actively to maintain its leading position in the region.
The Chairman of the Supervisory Board reminded that Azerbaijani economy has entered a new stage of its reform under the leadership of the President of the Republic of Azerbaijan. At this new stage, one of the main tasks is to increase the sustainability of the financial and economic activities of large state-owned companies in the country, further strengthening the control over their income and expenditures and to improve the management of state-owned legal entities.
Rashad Nabiev stressed that the main task of the Supervisory Board is to improve and further develop the activities of Azerbaijan Railways CJSC. Rashad Nabiev expressed confidence that the Supervisory Board within the framework of cooperation with the Board of Azerbaijan Railways CJSC will work to increase the efficiency of the Company’s activities within the framework of best practices and modern management requirements, to improve its management taking into account modern corporate governance standards.
The meeting discussed measures to be taken to ensure the implementation of the relevant decrees and orders of the President of the Republic of Azerbaijan, the principles of Azerbaijan Railways corporate governance system, organization of the Supervisory Board, the role of Azerbaijan Investment Holding in the company’s management and other issues.