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“AS Group Investment” - The most effective use of financial resources

The Azerbaijani business possesses rich and deep history. More dynamic development of the business started at the end of the 19th and at the beginning of the 20th centuries. After possessing the independence at the end of the last century the business in the republic entered on a new stage of development. Were eliminated a number of legal barriers, were ensured political and macroeconomic stability. After that, at the beginning of the 21st century for businessmen were created all conditions for development practically in any field of activity.

An essential push and an important role in systematization of the state measures in this direction gave the realization of the state program on development of small and average business in 2002-2005. The National Fund for Entrepreneurship Support of the Ministry of Economy and Industry was created. Fund started giving financial support to perspective projects, and not only in the capital, but also in regions of the country. This policy is continued and after the end of action of State program. In other words was started the accurate long-term mechanism of support of real business. In recent years the industrial enterprises financed by soft loans, as a rule, are in regions of the country. Journalists of AZTV TV channel recently told about it. According to their information, the Aran economic zone (AEZ), which is covering 18 administrative regions, is one of the main directions of preferential crediting. Nowadays in AEZ about 9800 businessmen have got preferential credits in sum 416 million manat. 256 million manat were spent for improving and creating 93 businesses, which are functioning on base of modern technology.

Journalists paid special attention to factory located in Yevlakh city for producing ferroconcrete production. Factory belongs to "AS Group Investment". Plant started its activity in 2011, at the expense of credits given by National Fund for Entrepreneurship Support. Plant's construction materials are widely used in reconstruction and improvement of the objects, including social objects in different regions of the country. Thus, plant located in Yevlakh takes an active part in modernization’s program of sewage infrastructure, those which are implemented according to instruction of head of state: produced in plant concrete elements, including cone, ring, concrete pipes and concrete drain shaft were used in laying sewage infrastructure in 21 district of the country. Except for the iron hatch, the plant produces all necessary concrete elements for sewage infrastructure.

On development of the plant, the capacity of which achieve up to 24 thousands ferroconcrete products in year, was given 8 million manat preferential credit. The enterprise effectively used the financial resources and is giving its invaluable contribution to social development of Yevlakh. Expert in production in Evlakh factory Sabuhi Mamedov confirms: “In enterprise now are working more than 70 person, 98% that are domestic inhabitants. In dependence from orders, we are able to increase the number of employees up to 180”.

The enterprise in economic and social point of view may be the model in effective using of National Fund's credits. Plant not only succeeds in ensuring employment for the domestic population but also as mentioned above, produces the products in various assortments, which successfully use in the construction sector of the republic. According to production director of company «AS İnşaat» Sabir Aliyev, who supervised the factory in Evlakh, the products of the factory has high quality, therefore are widely using in projects of private and state sectors. In parallel with the concrete elements for sewage infrastructure, factory is producing concrete borders, concrete slabs, and concrete blocks. In the improvement of Boulevard and construction of Olympic stadium were widely used the sidewalk slabs, produced in Evlakh factory. In performing in Barda and Mingachevir projects of The State Committee of Azerbaijan Republic on the Refugees' and Internally Displaced Persons' Affairs have used the sidewalk slab and border, produced in the factory. 

The factory in Evlakh is a sample of effective using by “AS Group Investment” and its prime founder Shahin Movsumov the financial resources, given by state for the support of the business. In implementing constructions works and producing constructions materials “AS Group Investment” aims to achieve the most effective in using of financial resources. This strategy finally increases the profitability of the performed projects in Azerbaijan and abroad.