CIIC attended event named Startup Adventure-2015 which was held on 24 February, 2015 at Azerbaijan Diplomatic Academy (ADA). Event brought some of the world’s top startup experts to tomorrow’s high-potential startup hubs. The main purpose of the event was gathering of entrepreneurs, investors, and ecosystem leaders in an exclusive setting to help build the future.
24 February 2015
Azerbaijan Banking and Finance Conference, arranged by Adam Smith Conferences, took place at Fairmont Hotel Baku on 4-5 February, 2015. CIIC attended this two-day event the major discussion topics of which were government initiatives to maintain a sound regulatory environment for financial markets and to strengthen the investment climate, raising Azerbaijan’s attractiveness in a wider financial marketplace, trade and cross border finance and others.
04 February 2015
Azerbaijan-Georgia-Turkey Business Forum, arranged by AZPROMO and Ministry of Economy and Industry, was held in Batumi on 6 March, 2015 and was attended by CIIC. Delegation from Azerbaijan headed by Minister of Economy and Industry of Azerbaijan Republic Mr. Shahin Mustafayev consisted of almost 40 local companies’ representatives.
06 March 2015
On March 3, 2015 CIIC attended Azerbaijan-Czech Business Forum arranged by AZPROMO with support of Ministry of Economy and Industry at Baku Business Center. Delegation headed by Minister of Trade and Industry of Czech Republic Jan Mládek consisted of 40 companies from different areas of industry.
03 March 2015
On April 2 CIIC has attended 14th Azerbaijan International Travel and Tourism Exhibition, AITF 2015 started its work in Baku Expo Centre. At AITF 2015 there were 17 national groups in attendance from Argentina, Bulgaria, Iran, Georgia, the Dominican Republic, India, Malaysia, Morocco, UAE, Slovenia, Thailand, and Turkey, among other countries. Since its foundation, the AITF exhibition is actively supported by the Ministry of Culture and Tourism of the Republic of Azerbaijan. AITF is also supported by the World Tourism Organization (UNWTO), the Azerbaijan Tourism Association (AzTA), and the International Tourism Trade Fairs Association (ITTFA).
20 April 2015
Energy outlooks and possibilities of cooperation with business have been on the agenda today (May 13) at the business forum with participation of Natig Aliyev, Minister of Energy of the Republic of Azerbaijan, hosted by the Caspian European Club.
Addressing the business forum, Natig Aliyev stressed meetings within the framework of the Caspian European Club are effective and useful for the development of the business-government dialog.
He referred to the work that Azerbaijan had carried out in the energy sector. According to him, the oil sector is a main pillar of the domestic economy. Last year Azerbaijan reached important for the country agreements in the energy sector and successfully continued the implementation of oil and gas projects. “Azerbaijan secured stability of the oil and gas production. In 2014 the country produced 42 million tonnes of oil a year and 29.6 billion cubic meters of gas”, the minister stressed.
According to Natig Aliyev, last year export comprised 35.2 million tonnes of oil. “At that, Azerbaijan accounted for 67.9% of oil exports, namely oil from the Azeri-Chyrag-Gunashli fields and condensate from the Shah Deniz field”, the minister said.
Coming to the development of the power industry, Natig Aliyev stressed last year 24 billion KWh of electricity had been generated in the country. Of this, Azerenerji-run grid accounted for 22.4 billion KWh, while the rest amount was generated by small energy companies.
According to Natig Aliyev, earlier technical, geological, technological and other production risk were taken into consideration when making investment into the energy sector, while today’s investment is associated largely with the geopolitical situation. “We are watching these trends in the global energy market”, he stressed.
The global demand for energy resources is expected to grow by 2035, Natig Aliyev said. According to him, at present there are 1 billion cars in the world. By 2035 this figure will double. Respectively, they must be provided with fuel. In addition, the demand for petrochemicals is growing increasingly. Thus, the role of oil and gas as a main energy source will remain high in the future.
He also referred to the energy market. So, if 10-20 years USA and the EU were the major energy consumers, nowadays the situation is changing rapidly and the demand is increasingly growing in such countries as China, India and Southeast Asian countries.
Addressing the forum, N.Aliyev noted that the major task is to enhance Azerbaijan’s role. Important work was carried out in the field of energy last year. The task for coming 5 years is to have Azeri gas supplied to Europe. This work started in 2011 and the major related documents and agreements have already become a reality”, the minister said and reminded that the session of the Advisory Council of the Southern Gas Corridor took place in September of the past year.
“We are pleased that on April 29 the government of Italy solved all issues concerning the gas pipeline including Environmental Impact Assessment and compliance with the EU legislation”, the minister emphasized.
According to him, operations on Shah Deniz II project, expansion of Sangachal terminal and South-Caucasus Pipeline, are underway ahead of schedule. “30-32% of operations have been performed within the frame of these projects”, he said.
He noted that Azeri gas will reach Turkey and Europe in 2019, 2020 respectively.
The Minister also touched a four-sided meeting of Ministers of Energy of Azerbaijan, Turkey, Turkmenistan and Vice President of the European Commission MarošŠefčovič that Ashgabat has recently hosted. According to N.Aliyev, the Turkmen side took an active part at the meeting and supported the Trans-Caspian project as a party. “We agreed to continue negotiations on regular basis”, he noted. Apart from this, the Turkmen side expressed an intention to annually sell 30 bcm of gas on its border. Nevertheless, there are still many transit related issues left to solve, the minister noted.
The Minister also touched the restructuring of oil and gas processing sector, development of petrochemical industry.
Business-forum participants’ proposals on this subject as well as issues that were of interest to the Caspian European Club member companies were discussed at the end of the event.
Addressing the business forum, Chief Executive Officer of Caspian European Club Telman Aliyev spoke about the Caspian Energy Forum. He expressed gratitude to the Ministry of Energy for stable support and active dialogue with member companies of the Caspian European Club. T.Aliyev thanked Natig Aliyev for a constructive dialogue as well as for attention to proposals and requests made by Caspian European Club member companies during the event.
According to him, within the frame of the business forum the companies obtained answers to questions that were of interest to them and discussed ways of cooperation with the ministry.
Telman Aliyev spoke about the Caspian Energy Forum and noted that the following Caspian Energy Forum would be chaired by Prime Minister of the Republic of Kazakhstan Karim Massimov on September 30, 2015 in Astana (Kazakhstan).
He said the Caspian European Club was established in June 2002 with active participation of Caspian Energy International Media Group and under support of the largest oil and gas companies working in the Caspian and Black Sea region. His Excellency President of the Republic of Azerbaijan Ilham Aliyev is the Chairman of the Caspian European Club. According to Telman Aliyev, the Caspian European Club has promoted attraction of oil sector revenues into development of the non-oil sector since its establishment. Caspian European Club, which brings together over 5,000 member companies and organisation, is operating in 50 countries around the world, carrying out an active work to maintain the dialogue between government agencies and the private sector.
Minister of Energy of the Republic of Azerbaijan Natig Aliyev was presented an honorary membership certificate of the Caspian European Club. Certificates were also given to new member companies of the Caspian European Club. Participating in the business-forum of the Caspian European Club were heads of companies and representatives of a number of diplomatic agencies accredited in Azerbaijan.
20 May 2015
1news.az interview with Orhan Agalarov, Chief Executive Officer of the Caspian International Investment Company (CIIC)
– Mr. Agalarov, what are the prospects for your company in the realities of the current economic situation and in particular after the change in the exchange rate of the national currency?
– I would like to note that similar changes, including devaluation, directly depend on the situation in the global economy and the events that affect it. Regardless of the economic instability in the world, our country continues a confident course of development thanks to the actions of the government headed by President Ilham Aliyev.
All measures are taken to maintain stability in the country, minimize the impact of external factors and ensure further growth of the economy and its diversification.
Activities such as currency devaluation or sanctions against Russia, in effect, create new opportunities for the domestic producer, and affect the expansion of business, oriented to exports, especially in the agricultural sector. All existing market conditions at this moment increase the demand for foreign investment. Going from this, we are confident in the long-term prospects of development of our company and in achieving positive results.
– What are the positive aspects of attracting investment from CIIC?
– Being an international investment company, CIIC at this stage uses equity financing, which is one of the most acceptable financial instruments in the current economic situation, allowing for a fairly different business. Equity financing implies the distribution of potential or existing risks that come from this or that area of business. This type of financing is significantly different from bank lending, with a minimum of fixed payments on invested funds.
Let us, if the project, in which we invest, at some stage of its development there will be losses, then we, as shareholders, will also divide the losses. If the business receives income based on the results of its activities, then the distribution of this income between shareholders or the investment is discussed in the development of the business is discussed and decided by shareholders. Naryadu with the above would like to note other positive aspects of cooperation with our company:
– Attraction of additional finances and involvement in this issue of our founders, which are large foreign investors;
– International experience of specialists of our company, as well as employees of our founders in the formation and improvement of production processes, financial reporting, the introduction of corporate governance and internal control;
– Interaction of new investment projects with existing projects in the field of formation of sales channels, supplies, etc., which are also one of the most important factors in attracting financial resources from the side of CIIC.
– What are the priority areas for CIIC at this time?
– The original purpose of CIIC’s creation was to invest in projects not related to the oil and gas and financial sectors of Azerbaijan. Following this principle, our company is open to projects that cover all sectors of the economy.
– What are the requirements for attracting investments from the CIIC side?
– We invest in projects in the field of production and services that comply with Sharia law and are financially profitable. Please note that our company has recently launched an updated version of the corporate website (www.ciic.az), where anyone wishing can find all the necessary information with respect to the criteria and principles that are necessary to own it. Also by filling out the appropriate form on our website, you will be able to direct information about the business project directly to our specialists.
– Thank you for the interview and we wish you success in new projects.
20 May 2015
On May 15 CIIC attended Azerbaijan-Saudi Arabia Business Forum which was held in Heydar Aliyev Center. More than 100 Arabian companies from various sectors has been presented during the forum.
17 May 2015
On May 6, 2015 CIIC attended the Business forum arranged by Caspian Energy Club at Grand Hotel Europe. The event was headed by Ministry of Education Mr. Mikayil Jabbarov.
07 May 2015
Caspian International Investment Company attended 48th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) which was held in Baku on 2-5 May, 2015.
About 3,000 participants, including senior officials, business leaders, investors, financiers, journalists, and civil society representatives from around the world gathered in Baku for the event. The overall theme for this year’s meeting is “Fostering Partnership for Development.”
05 May 2015
On September 16, CIIC attended Azerbaijan-Czech Business Forum organized by the Azerbaijani Export and Investment Promotion Foundation (AZPROMO) and supported by the Ministry of Economy and Industry. Azerbaijani President Mr. Ilham Aliyev greeted the participants and stressed the importance of the event for further development of relationships between two countries. He also noted that $27 billion were invested in Azerbaijan in 2014, adding that foreign investments are significant here. President of Czech of Republic Milos Zeman highlighted similarities between two countries, especially in the field of economy. In addition, he noted that more than 200 Azerbaijani students study in Czech Republic and stressed the opportunities to enhance the ties in this area.
Within the Azerbaijan business persons more than 50 Czech companies operating in industry, banking, IT, tourism, agriculture, logistics, construction, engineering have been represented in the event. Forum has been continued with bilateral meetings between Azerbaijani and Czech business persons.
17 September 2015
On November, 26 the delegation of officials and entrepreneurs headed by the Minister of Economy and Industry Shahin Mustafayev visited Republic of Belarus to participate in two-day Belarus-Azerbaijan Business Forum. The event was attended by officials as well as entrepreneurs from both countries representing different business spheres such as agriculture, industry, ICT, construction, tourism, finance etc. Azerbaijan delegation has been acquainted with activity of engineering, agriculture and pharmacy institutions of Belarus. CIIC representative participated in one-to-one meetings arranged for discussion of business opportunities between entrepreneurs during the event.
28 November 2015
Azerbaijan – US Business Forum supported by the Ministry of Economy and Industry, and organized by Azerbaijan Export and Investment Promotion Foundation (AZPROMO) and US-Azerbaijan Chamber of Commerce (USACC) was held on November 19, 2015. The event which held at Baku Business Center was attended by officials from both countries as well as around 100 entrepreneurs representing different business spheres such as construction, energy, ICT, chemicals, food industry, education, engineering, production of medical supplements, pharmacy, aviation, transport, machines and technologies in construction, cosmetic and washing products etc.
CIIC representatives participated in one-to-one meetings during the event.
19 November 2015