thebusinesslyear Azerbaijan2012 Farid Asadov, Chairman of the Executive In partnership with: 50 The Administration of the President of the 10 Board at AtaHolding - INTERVIEW Republic of Azerbaijan 10 Song of Change 53 Joseph M. Owen, World Bank Country Manager for Azerbaijan - GUEST SPEAKER 56 Commerce Khan Work - FOCUS: Regional Trade Fawaz Al-Issa, Vice-Chairman and CEO of 58 Turkapital - INTERVIEW 59 Azer Mursagulov, Advisor to the Executive Director at the IMF - GUEST SPEAKER Special thanks to Dr. Prof. Ali Hasanov, Head of FINANCE 61 Department for Public and Political Issues, the Administration of the DIPLOMACY & POLlTICS 13 61 On the Banks of the Caspian - REVIEW: President of the Republic of AzerbalJan, Banking 1st Grade State Councillor 13 Eyes on Me - REVIEW 62 Olly Norojono, Resident Representative of 16 Ilham Aliyev, President of the Republic of the Asian Development Bank - INTERVIEW Azerbaijan - INSIDE PERSPECTIVE Elman Rustamov, Governor of the Central 64 19 Mehriban Aliyeva, First Lady of Azerbaijan Bank of Azerbaijan Republic - INTERVIEW - INTERVIEW Jahangir Hajiyev, Cha ir man of the Board Elmar Mammadyarov, Minister of Foreign 66 22 at the International Bank of Azerbaijan• Affairs - INTERVIEW INTERVIEW Colonel-General Kamaladdin Heydarov, 69 Away Game - O&A: Up & Comers 24 Minister of Emergency Situations • INTERVIEW Elmar M. Mammadov, Chairman of the 70 Management Board at Kapital Bank • 26 A Growing Voice - FOCUS: Regional Affairs INTERVIEW Giorgio Napolitano, President of Italy • 71 From Little Loans - FOCUS: Microfinance 28 GUEST SPEAKER 72 Growth For All- ROUNDTABLE: Local Banking Dr. Heinz Fischer, the President of Austria 30 - INTERVIEW 74 There & Back - REVIEW: Cap ital Markets Catherine Ashton, European Union High 76 Emin Aliyev, Chairman of the Board at 31 Representative for Foreign Affairs and Baku Stock Exchange - INTERVIEW Security Policy - GUEST SPEAKER 78 The Next Step - REVIEW: Insurance Agshin Mehdiyev, Ambassador for the Ruslan Aliyev, President of Ateshgah Group 80 32 Permanent Mission of Azerbaijan to the UN of Companies - INTERVIEW - GUEST SPEAKER 82 The Compulsory Flipside - O&A: Insurance 35 In Search of Solutions - FOCUS: Nagorno• Karabakh Ambassador Pactraig Murphy, Special 36 Representative of the OSCE Chairperson• in-Office for the South Caucasus - GUEST SPEAKER ECONOMY 39 39 Come Rain or Shine - REVIEW 44 Shahin Mustafayev, Minister of Economic Development -INTERVIEW Shahmar Movsumov, Executive Director of 46 the State Oi! Fund of Azerbaijan (SOFAZ) • INTERVIEW 48 Adi! A. Mammadov, President of AZPROMO - INTERVIEW Azerbaijan2012 ENERGY 85 TRANSPORT 145 85 The Supply Conundrum - REVIEW 145 From Point to Point - REVIEW 90 Natiq Aliyev, Minister of Industry and 150 Ziya Mammadov, Minister of Transport • Energy - INTERVIEW INTERVIEW Rovnag Abdullayev, President of the 152 Jahangir Askerov, President of AZAL• 92 State Oil Company of Azerbaijan Republic INTERVIEW (SOCAR) - INTERVIEW 154 Arif Asgarov, Chief of Azerbaijan Railways Rashid Javanshir, Regional President for JSC - INTERVIEW 94 Azerbaijan, Georgia, and Turkey at BP • INTERVIEW Javid Gurbanov, Chairman of Azeryolservis 156 and Deputy in the Azerbaijan National 96 Show Me the Way - FOCUS: The Pipeline Race Assembly - INTERVIEW 98 Huseynaga Ragimov, General Director of 158 A Place on the Sea - FOCUS: Baku's New Port Azpetrol - INTERVIEW 160 Faig Safarov, President of KIA Motors 100 The Maintainers - FORUM: Service Companies Azerbaijan - INTERVIEW Dmitriy Solovyov, General Director of Cross 102 Caspian Oil and Gas Logistics - INTERVIEW REAL ESTATE & 163 r CONSTRUCTION INDUSTRY & MINING 105 163 Let's Go Steady - REVIEW: Real Estate 105 Priority Shift - REVIEW: Industry 167 Kevin Denton, General Manager of Hill International Azerbaijan - INTERVIEW 108 M. Ahadpur Khangah, Chairman of Caspian Fish Co - INTERVIEW 168 Emin Agalarov, Vice-President of Crocus Group - INTERVIEW 110 Suleyman Mammaclov, General Director of Baku Steel Company - INTERVIEW 170 Haji Ibrahim Nehramli, President of Avesta Concern - INTERVIEW 112 Sarkhan Babayev, Director of Det.AI 172 Time to Shine - REVIEW: Construction Holding - INTERVIEW Michael Gerlich, CEO and Chairman of 174 ismail $ahin, Country Manager of Borusan 114 the Executive Board at Synergy Group • Makina ve Gu<; Sistemleri - INTERVIEW INTERVIEW 176 Faik Rzayev, General Director of Encotec• INTERVIEW 117 Elshad Abbasov, General Director of Embawood - INTERVIEW 178 Azad Ibrahimov, Presiclent of the ANT 120 Below Terra Firma - REVIEW: Mining Group of Companies - INTERVIEW 122 Reza Vaziri, President and CEO of Anglo 180 Kamil Aliyev, Director of AzVirt LLC• INTERVIEW Asian Mining - INTERVIEW 182 Khalig Ismayilov, General Director of Safe Life - INTERVIEW ICT 123 184 Block by Block - O&A: Construction Materiais 123 Weaving the Fabric - REVIEW Ali M. Abbasov, Minister of 126 Communications & Information Technologies - INTERVIEW 128 Jurgen Peetz, CEO of Nar Mobile• INTERVIEW 130 Richard Shearer, CEO of Bakcell• INTERVIEW 132 Ali Agan, CEO of Azercell- INTERVIEW 134 Ramazan Valiyev, Director of Delta Telecom - INTERVIEW 136 Watching the Connectors - ROUNDTABLE: Infrastructure 138 Jayhun Mollazade, CEO of AzQtel-SAZZ • INTERVIEW 140 The Woof & Warp - FOCUS: Europe-Persia Express Gateway Project 142 New Horizons - O&A: IT 143 Fazil F. Abbasov, General Director of AzerNews - INTERVIEW thebusinessyear ISBN 978-1-908180-06-3 Publisher SOCIAL, HEALTH & Rupert Smith 195 EDUCATION Regional Director Ay§e Hazlr 195 Shot in the Arm - REVIEW: Health Editor-in-Chief Gilles Valentin 197 Fizuli Alekperov, Minister of Labor & Social Protection - INTERVIEW Country Manager Giilay Sultan Ozdamar 199 Elshad Abdullayev, General Manager of Regional Editor Avromed - INTERVIEW Leland Rice 201 The Midas Touch - REVIEW: Education Country Editor Ruben Martinez 203 Misir Mardanov, Minister of Education• Editorial Director INTERVIEW Jason 1. Nash Gular Ahmadova, Deputy of the Azerbaijan Sub- Editors 205 Peter Ho\Vson AGRICUlTURE 185 National Assembly from the 2nd Khatai District - INTERVIEW Emily Mallis Elshad Rasulov, Chairman of the Board at 206208 185 Aydin Mehdiyev, Owner of Delta Group- DanoneJustGreenUdderKeepMeTransformation- INTERVIEWSwimmingUp - REVIEW- FOCUS:- FOCUS:AquacultureDairy Analyst INTERVIEWAzersun Holding - INTERVIEW Prof. Dr. Ahliman Amiraslanov, Rector of 188186 Atropatena - INTERVIEW Carla Alberti 192189 193190 MuratAbdolbariKunt,Goozal,CaucasusChairmanCountryof Managerthe Boardatat Azerbaijan Medical University - INTERVIEW Contributors Jeyran Amiraslanova, Seni or Prof. Dr. Ahmet Sanic, Rector of Qafqaz Consultant, Presidential University - INTERVIEW Administration of the Republic of Azerbaijan Araz Aliyev, Director, As Rek Iam Production Transcribers Lars Larsson Atti!a Pelit Advertising Manager Caroline Miller Creative Director Genee Presta Cover Illustration Pmar du Pre Photography Azernews Operations Manager Serpil Yaltaher TOURISM & SPORTS 211 Circulation & Marketing Director Open All Seasons - REVIEW Amy Burtin 211 214 Abulfas M. Garayev, Minister of Tourism• Prinling: Apa Uniprint INTERVIEW Produclion: The Business Year 78 York Street 216 Azad Rahimov, Minister of Youth & Sports - INTERVIEW London WIH !DP T +44 (0)207 692 8335 218 The Hunt for the Flame - FOCUS: Sports F +44 (0)207 692 8336 info@thebusinessyear .com Elkhan Mammadov, General Secretary of 220 www.thebusinessyear.com the Association of Football Federations of Azerbaijan - INTERVIEW The Business Year is a tradename of 222 Once in a Lifetime - ROUNDTABLE: Hoteis Wildcat Publishing Inc. Copyright The Business Year International Inc. 224 The Geometry of Life - FOCUS: Carpets 2012. All rights reserved. Prof. Vidadi A. Muradov, Director of Azer• No part of this publication may reproduced, 226 !Ime - INTERVJEW stored in a retrievable system or transmitted in any farm or by any means, electronic, mechanical, photocopied, recorded or 227 Serhat Bash, General Manager of C Hoteis & otherwise without prior permission of The Resorts - INTERVIEW Business Year International Inc. The Business Year International Inc. has made every effort to ensure that the content of this SPECIALFOCUS publication is accurate at the time of printing. EUROVISION 2012 229 The Business Year International Inc. makes no warranty, representation or undertaking, 229 Light Your Hre - EUROVISION 2012 whether expressed or implied, nor does it assume any legalliability, direct or indirect, or responsibility for the accuracy, completeness or usefulness of any information contained in this publication. EXECUTIVE GUIDE 233 233 The Set Up - REVIEW: Legal 236 Number Crunch - REVIEW: Accountancy the bus ine 551year 240 When in Azerbaijan ... 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