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The new Ministry of Economic Development has been given power to approve certain creation, merger, consolidation, liquidation and acquisition transactions involving local entities. Its prior consent to such transactions is necessary where certain thresholds are met.
Azerbaijan has recently identified certain enterprises in a wide range of sectors for privatization. It is expected that privatization will involve a combination of closed subscription for employees, cash and voucher auctions, investment tenders and case-by-case privatization techniques.
Including: Legal Regime; Government Authorities; Production-Sharing Agreements; Pipelines.
The president of Azerbaijan has approved regulations drafted by the recently created Ministry of Fuel and Energy, which is now responsible for all regulatory functions relating to the national energy sector.
The State Oil Fund is a non-budgetary state institution set up to accumulate and manage the nation's oil and gas revenues. Its proceeds will be used to address Azerbaijan's most pressing needs and to reconstruct the nation's strategic infrastructure, pursuant to an annual programme approved by the president of Azerbaijan.