Baku Metropolitan Supervisory Board outlines vision for future growth

The first meeting of the Supervisory Board of Baku Metro CJSC, established by order of the President of the Republic of Azerbaijan on March 30, 2021, was held.

The meeting, chaired by Elnur Aliyev, Deputy Minister of Economy and Chairman of the Supervisory Board, was attended by members of the Supervisory Board, Zaur Huseynov, Chairman of the Baku Metro Board of Directors, and other Baku Metro CJSC officials.

At the outset, the Chairman and members of the Baku Metro Supervisory Board expressed their gratitude to President Ilham Aliyev for his confidence in them.

At the meeting, Supervisory Board Chairman Elnur Aliyev noted that Baku Metro plays an important role in the country’s transport sector as a state-owned company providing subway passenger transportation, while simultaneously developing the subway system by strengthening its material and technical base and constructing new lines and stations.

Significant work has been done in recent years to modernize Baku Metro, a key public transportation infrastructure in Baku, and to implement new equipment and technologies. The primary task now is to continue and strengthen these efforts to meet the demands of the new stage of economic development. At this stage, improving management and control mechanisms, increasing operational sustainability, and promptly addressing any organizational issues are particularly important.

The Supervisory Board's primary task is to take steps to enhance Baku Metro's performance capabilities. Elnur Aliyev expressed confidence that the Supervisory Board, working in cooperation with the Board of Directors and adhering to best practices and modern management principles, will strive to increase efficiency and improve management, taking into account modern corporate governance standards.

Zaur Huseynov, Chairman of Baku Metro CJSC, spoke about current operational matters facing Baku Metro. He expressed confidence that the establishment of the Supervisory Board marks the beginning of future success for Baku Metro in the face of new economic challenges.

The meeting also included a presentation by Zaur Gurbanov, a member of the Supervisory Board and Deputy CEO of Azerbaijan Investment Holding, on the principles of Baku Metro's corporate management system, including the functions and powers of the Supervisory Board. Discussions were held on measures to ensure the implementation of tasks arising from decrees and orders of the President of the Republic of Azerbaijan.