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VP: Over half of SOCAR’s contracts account for Azerbaijani companies

8 April 2019 16:48 (UTC+04:00)
VP: Over half of SOCAR’s contracts account for Azerbaijani companies

By Trend

About 56 percent of the contracts that Azerbaijan’s state oil company SOCAR concluded from 2015 to February 2019 with subcontractors, manufacturers and suppliers account for Azerbaijani companies, SOCAR Vice President for strategic development Tofig Gahramanov told reporters in Baku, Trend reports April 8.

Commenting on the opening of the new website, where SOCAR will post information about the needs for equipment, services and materials for small and medium-sized enterprises (SMEs), he noted that this is a great achievement.

“From now on, support for local production will reach a new level, and local companies will participate more actively in projects,” he said.

Azerbaijan’s state oil company SOCAR and the Center for Analysis of Economic Reforms and Communications signed a memorandum of understanding on April 8. The memorandum envisages creation of a new website for import substitution and support for SMEs in Azerbaijan.

As part of the memorandum, SOCAR will post on the new website requests for goods, equipment and services needed by the company.

Thanks to the website, representatives of SMEs will be able to participate in tenders that were previously available only for big companies. The website will be managed by the Center for Analysis of Economic Reforms and Communications.

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