BakuBus Supervisory Board holds its first meeting

The first meeting of the Supervisory Board of BakuBus LLC, 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 and senior officials of BakuBus LLC and the Baku Transport Agency (BTA).

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

At the meeting, Supervisory Board Chairman Elnur Aliyev noted that the socio-economic reforms implemented in the country over the past decade have necessitated the reorganization of high-quality public transport services. BakuBus LLC is a key transport company committed to providing reliable, safe, and convenient bus transport services that offer long-term development prospects for citizens.

Emphasizing that BakuBus LLC's activities contribute to establishing best practices and traditions in the passenger transport market, Supervisory Board Chairman Elnur Aliyev assessed the establishment of the Supervisory Board as a step toward further developing the company.

The Chairman of the Supervisory Board noted that a key feature of BakuBus LLC is the presence of a social element in its activities, in addition to a commercial one, and that aligning these two elements is a primary goal.

Recalling that the Azerbaijani economy has entered a new phase of reform under President Ilham Aliyev’s leadership, the Chairman of the Supervisory Board stated that key priorities include increasing the financial and economic sustainability of major state-owned companies and further strengthening control over their revenues and expenditures while improving the management of state-owned legal entities. He added that the Supervisory Board's main task is to take steps to improve BakuBus LLC's activities and further development.

Vusal Karimli, Chairman of the BTA Board of Directors, then briefed the participants on BakuBus's activities, the state of passenger transport in the country, and upcoming challenges. Tural Mahmudov, Director of BakuBus LLC, spoke on current operational matters of the company. The meeting also included a presentation by Zaur Gurbanov, Deputy CEO of Azerbaijan Investment Holding, on the principles of BakuBus LLC's corporate management system.

Meeting participants discussed measures to ensure the implementation of tasks arising from relevant decrees and orders of the President of the Republic of Azerbaijan.