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Charter

   

The Decree of the President of the Republic of Azerbaijan on the approval of the
Regulation on the State Fund for the Development of Information Technologies
under the Ministry of Communications and Information Technologies of the

Republic of Azerbaijan

 

According to the Article 7/109 of the Constitution of the Republic of Azerbaijan, to support on production-oriented activities in the field of information technologies, to attract domestic and foreign investment in this field of work, I hereby order:
1. “Regulation on the State Fund for the Development of Information Technologies under the Ministry of Communications and Information Technologies of the Republic of Azerbaijan” will be approved (Annex – I).
2. “Guidelines for the use of assets of the State Fund for the Development of Information Technologies under the Ministry of Communications and Information Technologies of the Republic of Azerbaijan” will be approved (Annex – II).
3. The Cabinet of Ministers of the Republic of Azerbaijan:
3.1. Within one month to determine the composition of the Fund’s staff and to implement the necessary measures on the material and technical support of the Fund;
3.2. Within three months to prepare proposals on the conformity of the Acts of the President of the Republic of Azerbaijan with this Decree and to submit it to the President of the Republic of Azerbaijan;
3.3. Within three months to provide the conformity of the normative legal acts of the Cabinet of Ministers of the Republic of Azerbaijan with this Decree and to inform the President of the Republic of Azerbaijan;
3.4. To control the conformity of the normative legal acts of the central executive bodies with this Decree and to inform the President of the Republic of Azerbaijan about the implementation of this within five-month period;
3.5. To solve other issues arising from this Decree.
4. To provide the conformity of the normative legal acts and normative acts of the central executive bodies of the Ministry of Justice of the Republic of Azerbaijan with this Decree and to inform the Cabinet of Ministers of the Republic of Azerbaijan.
5. To take actions to form the activities of the Fund of the Ministry of Communications and Information Technologies of the Republic of Azerbaijan.

 

İlham Aliyev
The President of the Republic of Azerbaijan
№ 853, April 2, 2013, Baku

 

Regulation on the State Fund for the Development of Information Technologies under the
Ministry of Communications and Information Technologies of the Republic of Azerbaijan

 

Annex I
Was approved by the Presidential Decree No. 853,
Dated April 2, 2013

 

1. General statements

1.1. The State Fund (hereinafter referred to as the Fund) for Development of Information Technology was created on March 15, 2012 by the decree of 2095 of the President of the Republic of Azerbaijan, it operates under the Ministry of Communications and Information Technologies (hereinafter referred to as ICT) of the Republic of Azerbaijan and it is a state body that stimulates functions in the field of information and communication technologies, the innovations in this field, as well as provides financial support for the expansion of operative scientific researches.
1.2. The Fund is a state organization, has state property at the disposal of it, and has independent balance, bank and treasury accounts, the State Emblem of the Republic of Azerbaijan and its name engraved on the seal, appropriate stamp and blanks.
1.3. The Fund serves its functions in terms of the state and local self-governmental bodies, juridical people operating in the field of information and communication technologies, credit, financial and insurance institutions, associations which support the development of entrepreneurship, non-governmental and international organizations.
1.4. The Fund in its functions bases on the Constitution of the Republic of Azerbaijan, laws of the Republic of Azerbaijan, decrees and orders of the President of the Republic of Azerbaijan, decrees and orders of the Cabinet of Ministers of the Republic of Azerbaijan, international treaties that the Republic of Azerbaijan supports, Regulation of the Ministry of Communications and Information Technologies of the Republic of Azerbaijan, orders and instructions of the Ministr of of Communications and Information Technologies of the Republic of Azerbaijan, as well as this Regulation.
1.5. Maintenance and operating expenses of the Fund are financed by the state budget of the Republic of Azerbaijan, extra-budgetary funds, loans and grants, donations and other sources not prohibited by law.
1.6. The Fund is situated in Baku.

 

2. The main objectives of the Fund

2.1. 2.2. The main objectives of the Fund are as followings:
2.2.1. To ensure the efficient and proper use of the fund’s assets;
2.2.2. To stimulate product-oriented activities in the field of ICT, the application of innovation in this field, as well as the provision of the implementation of projects and programs which are important for the state and society in order to expand the operative researches.
2.2.3. To explore export-oriented projects in the field of ICT, to evaluate their economic effectiveness, to develop innovation-oriented projects, to provide financial support and to attract foreign investment;
2.2.4. To finance projects to attract investments in order to enhance the performance of local juridical people operating in the field of ICT in foreign markets.
2.2.5. To develop the innovations in the field of ICT and to provide venture financing (long and risky investments in innovative activities of littlejuridical people) to transform them into business projects;
2.2.6. To expand the use of concessional financial resources through the Fund’s resources by the means of banks and non-bank credit institutions (hereinafter – the authorized credit organizations) which are authorized for the promising and emerging, small and medium business subjects operating in the field of ICT;
2.2.7. To make the juridical people participate as a shareholder(participant) in the authorized capital in the field of ICT in the Republic of Azerbaijan in order to promote domestic and foreign investment;
2.2.8. To attract investments and ensure the realization of technological transfer in order to provide production and technological cooperation between domestic and foreign juridical people operating in the field of ICT;
2.2.9. To make recommendations on analizing the investment environment and the improvement of the country’s economy in order to attract investments to the ICT field;
2.2.10. To take measures to attract financial resources to the Fund, as well as negotiate and make suggestions for attracting loans from financial markets;
2.2.11. To make recommendations for analyzing investment climate and its improvement in order to attract the investments of the country’s economy;
2.2.12. To take measures to attract financial resources to the Fund, as well as to negotiate and make suggestions in the manner prescribed by law to attract loans from financial markets;
2.2.13. To finance the creation and development of technology parks, business incubators and other innovative infrastructure units in the relevant field in order to ensure the future development of ICT;
2.2.14. On the basis of the competition to choose the innovative and operative scientific-technical projects (startup project) that will be carried out by small enterprises specialized in the field of ICT;
2.2.15. To fulfill the projects selected on a competitive basis in the form of grant funding and to provide the specialization of these projects in the following spheres of the ICT sector:
1. the preparation projects of the advanced software;
2. the preparation projects of the innovative ICT product samples ;
3. the development of innovative infrastructure projects, including the development of new technologies and their commercialization projects;
4. the creation of information systems projects using modern technologies;
5. expansion of ICT services, including the development of the projects of the Internet services;
2.2.16. To carry out the examination of the investment projects that will be financed by the Fund;
2.2.17. To prefer the financing of investment projects that arise from the state programs which aim the development of ICT;
2.2.18. To determine the minimum requirements, the conditions of competitions and the evaluation criteria of the investment projects on the drafting of them to get the concessional loans with the help of the Fund;
2.2.19. To participate in the preparation and implementation of the local and regional programs and investment projects, in the formation of market infrastructure providing the development of entrepreneurship, robust competition and goods markets in the field of ICT;
2.2.20. To control the correct use of resources allocated by the Fund, to take measures in accordance with the law to suspend the financing and return of the allocated funds if it is not used for the intended purposes;
2.2.21. To organize conferences, seminars, exhibitions and other international and local events which is directly related to the Fund’s activities and participate in them;
2.2.22. To act as a mediator between the entrepreneurs and the subjects of new ideas and innovation in the field of ICT and for this purpose provide them with the business consulting and expert services;
2.2.23. To stimulate the training of personnel, to create a database of talented young people, young ICT professionals and scholars;
2.2.24. To provide informing the people about its performance, the creation of a website, the placement of the information which has the list determined by the law and public disclosure of the information in the website and constantly updating the information;
2.2.25. To engage in the advertising and publishing activities prescribed by law to stimulate the development of entrepreneurship in the field of ICT;
2.2.26. To carry out other tasks defined by the acts of the President of the Republic of Azerbaijan in accordance with their functions.

 

3. The rights of the Fund

3.1. The Fund will have the following rights to serve its functions:
3.1.1. To attract resources to the Fund and draw conclusions;
3.1.2. According to the objectives of the Fund, to have business relationships with juridical people in the Republic of Azerbaijan and abroad;
3.1.3. to guarantee the protection of foreign investment in joint projects;
3.1.4. to cooperate with relevant government agencies of foreign countries, international financial institutions, investment funds, non-governmental organizations;
3.1.5. to use the state property which is at the disposal of it according to the law;
3.1.6. to get securities in the field of ICT according to the law and manage them;
3.1.7. To solve the issue of funding for projects that are consistent with the objectives of the Fund;
3.1.8. To control the correct use of resources allocated by the Fund, to take measures in accordance with the law to suspend the financing and return of the allocated funds if it is not used for the intended purposes;
3.1.9. To preach the Fund’s performance and the results and importance of grant projects in the country and abroad;
3.1.10. To help realization of the positive results of scientific researches in domestic and international markets with the help of the financial support of the Fund;
3.1.11. To attract domestic and foreign investment to the field of ICT and take measures to ensure their efficient use, to organize exhibitions and fairs for this purpose;
3.1.12. To attract independent experts for the examinations of the projects that will be financed by the resources of the Fund.

 

4. Formation and use of the Fund’s assets

4.1. The Fund’s assets are formed with the following sources:
4.1.1. Allocations from the state budget of the Republic of Azerbaijan;
4.1.2. Income got from the Fund’s activities;
4.1.3. Dividends from securities acquired by the Fund;
4.1.4. Voluntary donations by the domestic and foreign juridical and individual persons;
4.1.5. Aids, grants and loans given by foreign states and international organizations;
4.1.6. Other sources considered in legislation.
4.2. The Fund’s assets are formed with Azerbaijani manat and foreign currencies.
4.3. The Fund uses the assets to implement the objectives and tasks determined by this Regulation;
4.4. Joint projects funded by foreign and local investments are financed by the Fund providing Fund’s resources not to be more than those investments.
4.5. The fund uses the following funds through the available financial mechanisms:
4.5.1. To have term investments with the aim of obtaining securities and participating interests (shares) of juridical people operating in the field of ICT that is in the authorized capital authorized capital;
4.5.2. To finance local business subjects in the form of low-interest loans on favorable terms by authorized credit institutions;
4.5.3. Grant funding of the innovative and operative scientific-technical ICT projects through competition;
4.5.4. To guarantee the protection of the investments involved in joint projects;
4.6. At the end of the financial year the Fund’s remaining resources are used to finance the costs of the next year.
4.7. The use of the Fund’s assets is carried out in accordance with the rules set forth by the President of the Republic of Azerbaijan.
4.8. Every year an external audit is held in order to ensure transparency in the use of the fund’s assets, the results of this audit are announced and posted on the media.

 

5. Fund management

5.1. The compostion of the Fund’s staff is determined by the Cabinet of Ministers of the Republic of Azerbaijan.
5.2. Ministry of Communications and Information Technologies of the Republic of Azerbaijan fulfills the following managing the Fund:
5.2.1. Confirms the Fund’s structure and statutes of structural units, table of organization according to the defined number of staff and cost estimation;
5.2.2. Confirms the Fund’s annual reports;
5.2.3. Ratifies the norms which controls the Fund’s activities.
5.3. Minister of Communications and Information Technologies of the Republic of Azerbaijan appoints and dismisses the Executive Director of the Fund, two Deputies of the Director and the Chief Accountant;
5.4. The control over the Fund’s activities are fulfilled by the Supervisory Board (hereinafter – the Council);
5.5. The Council is formed by 7(seven)- 4(four) members from relevant governmental bodies, 3 (three) members representing non-governmental organizations in this field;
5.6. Council’s 4 (four) members of the central executive bodies (including one from each of the central executive bodies) are submitted to:
5.6.1. Ministry of Communications and Information Technologies of the Republic of Azerbaijan;
5.6.2. Ministry of Finance of the Republic of Azerbaijan;
5.6.3. Ministry of Economic Development of the Republic of Azerbaijan;
5.6.4. The Ministry of Education of the Republic of Azerbaijan.
5.7. Council members representing non-governmental organizations on the basis of the presentation of these organizations are appointed by the Ministry of Communications and Information Technologies of the Republic of Azerbaijan.
5.8. The composition of the Council is approved by the Ministry of Communications and Information Technologies of the Republic of Azerbaijan.
5.9. Organization of the Council, rights and responsibilities of the members, requirements for them, procedures for early termination of their powers are handled with “Regulation on the Supervisory Board”. “Regulation on the Supervisory Board” is confirmed by the Minister of Communications and Information Technologies of the Republic of Azerbaijan.
5.10. The Council fulfills the followings:
5.10.1. Determines priority activities and development strategy of the Fund to participate in the implementation of the ICT policy;
5.10.2. Realizes general control over the conformity of the Fund’s activities with the legislation of the Republic of Azerbaijan, the formation and expenditure of funds;
5.10.3. Manages the proposals submitted by the Executive Director on the strategy of attracting additional resources to the Fund and spending new resources on the priority activities of the Fund;
5.10.4. Discusses the use of the Fund’s assets according to the recommendation of the Executive Director of the Fund, the balance and project of income and expenditure estimation and make recommendations;
5.10.5. submits the proposals about financing of projects on a competitive basis, the deployment of funds through authorized credit unions, the Fund’s investment activities to the Ministry of Communications and Information Technologies of the Republic of Azerbaijan and checks if these proposals are appropriate to the rules of the use of the Fund’s assets;
5.10.6. Confirms the selection criteria of the authorized credit institutions;
5.10.7. Approves the demonstrative projects of the contracts about the terms of the use of the Fund’s assets that is signed between the Fund and authorized credit institutions;
5.10.8. Confirms the requirements on the draft of the investment projects to get concessional loans with the Fund’s resources and criterias for evaluating investment projects;
5.10.9. Asserts the requirements on the participants and the rules of the competition;
5.10.10. determines the amount of funds intended for financing projects;
5.10.11. According to the proposal of the Executive Director makes decisions on the results of competitions;
5.10.12. confirms the rules of the monitoings to control the intended use of the finance allocated by the Fund with the aim of implementation of the projects;
5.10.13. Makes proposals on the to the Ministry of Communications and Information Technologies of the Republic of Azerbaijan about the improvement of the performance of the Fund;
5.10.14. Drafts normative legal acts about the performance of the Fund and submits it to the Ministry of Communications and Information Technologies of the Republic of Azerbaijan for its approval;
5.10.15. Decides to have external audits related to the performance of the Fund and organizes the audit, submits the proposals about the audit results to the Ministry of Communications and Information Technologies of the Republic of Azerbaijan;
5.10.16. Discusses other issues related to the current activities of the Fund.

 

6. Organization of the work of the Fund

6.1. The Fund is managed by the Executive Director of the Fund.
6.2. Executive Director of the Fund:
6.2.1. Organizes the Fund’s current work, opens treasury accounts and represents the Fund;
6.2.2. Draft normative legal acts related to the activities of the Fund, including internal disciplinary rules and submits it to the Ministry of Communications and Information Technologies of the Republic of Azerbaijan for its approval;
6.2.3. employs and hires, exercises the encouragement and disciplinary measures provided by the law;
6.2.4. Decides on the applications of the authorized credit institutions about getting concessional loans with the Fund’s resources and makes an appropriate decision on accepting or refusal about this applications depending on the opinion of the examination.
6.2.5. attracts experts for the examination of the applications about the investment projects of the entrepreunership subjects by the authorized credit institutions;
6.2.6. Makes a decision on competition in order to finance the operative scientific research and innovative projects specialized in the ICT field;
6.2.7. Examines the projects for the competition and forms an expert committee in order to evaluate them;
6.2.8. Gives suggestions on the improvement of the performance of the Fund;
6.2.9. Manages the property, including the Fund’s financial resources;
6.2.10. Signs contracts, orders and decrees on behalf of the Fund in accordance with the law, and supervise their implementation;
6.2.11. Prepares expenditure estimation, proposals on the main directions of the use of funds, submits it to the Ministry of Communications and Information Technologies of the Republic of Azerbaijan after consultation with the Council;
6.2.12. According to this Regulation, provides the allocation of grants through a tender process, signing acts;
6.2.13. Controls the implementation of projects financed by the Fund and fulfillment circumstance of other measures;
6.2.14. Controls over financial and economic performance of the Fund and provides the necessary conditions for the conduct of the audit;
6.2.15. Takes necessary measures about the solution of material and technical issues in order to ensure the efficient operation of the Fund;
6.2.16. Represents the Fund with juridicals and individuals, state and municipal bodies without the power of attorney in the Republic of Azerbaijan and foreign countries;
6.2.17. Informs the public about the Fund’s annual performance;
6.2.18. After the end of the financial year prepares an annual report about the position of the Fund’s performance and the use of the resources within 1 (one) month, submits this report to the Ministry of Communications and Information Technologies of the Republic of Azerbaijan together with the relevant opinion of the Council;
6.2.19. According to the Fund’s objectives, performs other duties which are not under the jurisdiction of the Council.

 

7. Accounting and reporting

Maintains the accounting records, submits financial and statistical reports to relevant authorities according to the Fund’s legislation;

 

8. Reorganization and liquidation of the Fund

8.1. The Fund is revoked and re-arranged by the President of the Republic of Azerbaijan.
8.2. If the Fund is terminated, its property division issues are resolved due to the Civil Code of the Republic of Azerbaijan.