1. General provisions
1.1. The Economic Scientific Research Institute public legal entity (hereinafter - the Institute) of the Ministry of Economy of the Republic of Azerbaijan (hereinafter - the Ministry) is a think tank established by the President of the Republic of Azerbaijan providing for scientific and analytical coverage for the development and implementation of economic and other related measures in the country, engaging in fundamental and applied scientific research, empirical studies, establishing research base to support the development and sustainability of economy and its individual sectors, as well as acting as an institution preparing highly qualified scientific personnel and contributing to the development of human capital.
1.2. In its activities the Institute is guided by the Constitution of the Republic of Azerbaijan, international agreements acceded to by the Republic of Azerbaijan, laws of the Republic of Azerbaijan, Statute on the Ministry of Economy of the Republic of Azerbaijan, the present charter, decrees and executive orders of the President of the Republic of Azerbaijan, decisions and orders of the Cabinet of Ministers of the Republic of Azerbaijan, orders and executive orders of the minister of economy of the Republic of Azerbaijan (hereinafter - the Minister).
1.3. Upon implementation of its duties and enforcing its rights the Institute works in a coordinated manner with state and local self-governing bodies, international organisations and non-governmental organisations, other legal and natural entities.
1.4. By implementing state and public activity the Institute may be engaged in entrepreneurship activity in order to achieve the goals as set in the Charter.
1.5. The profit of the institute can be transferred to the state budget or used for the purposes not envisaged in the charter only by the decision of the Minister.
1.6. The institute has an independent balance, property, treasury and bank accounts, logo, brand, motto, name and a seal, relevant stamps and letterhead with an engraved Coat of Arms of the Republic of Azerbaijan in line with the law of the Republic of Azerbaijan “On the use of the Coat of Arms of the Republic of Azerbaijan”.
1.7. The institute, in the manner envisaged in the legislation of the Republic of Azerbaijan and in the present Charter, has a duty and rights to make transactions, to obtain and enforce property and non-property rights acting on its own behalf. The Institute can act as a claimant or a defender in the court of law.
1.8. Legal address: Hasan Zardabi Avenue 196, Yasamal, Baku, AZ1122
2. Activity directions of the institute
2.1. The institute operates in the following areas in order to carry out analysis and scientific research in respect to the development of the areas of economy, establish analytical database and information systems, design programs and projects, implement monitoring and assessment, strategic planning and provide for innovative development in the respective field:
2.1.1. Development of social and economic development policy of the state, including the design and implementation of scientific foundation of strategy and tactics for the implementation of economic reforms;
2.1.2. Participation in determination of strategic directions of state policy on social and economic development, in the design of concepts and programs on these directions, issuance of suggestions and recommendations, implementation of monitoring and assessment;
2.1.3. Design and development of scientific basis for integrating country’s economy into the global economic system, for cooperating with international economic and financial institutions and for providing economic security of the country and issuance of proposals and recommendations towards that end;
2.1.4. Participation in and promotion of the design of scientific basis of the state policy in the field of structural reforms and innovation in the economy of the country, issuance of proposals and recommendations, as well as delivery of services for the assessment of innovation projects;
2.1.5. Design theoretical and methodological basis of attracting investments, activating and improving the investment climate, the development and implementation of state investment policy and the investment design and expertise and carry out research in this area in line with its activity directions;
2.1.6. Participation in the development of scientific-methodological basis of state economic management and finance policy, as well as in the preparation of proposals of strategic significance and in the conduction of research in these fields;
2.1.7. Preparation of proposals and recommendations regarding the formation of scientific basis in the field of the development of entrepreneurship and its state support policy and its constant improvement;
2.1.8. Organisation of professional development courses, trainings, workshops and other activities supporting professional development in order to develop experts on different fields of economy and to improve their level of specialization in terms of contemporary requirements;
2.1.9. Provision of references to projects in respect to economic development policy and implementation of reforms;
2.1.10. Participation in the development, promotion and comprehensive analysis of investment projects;
2.1.11. Participation in the development and expertise of normative legal acts on economy, economic policy, as well as of those related to economic reforms;
2.1.12. Conduction of research in respect to the economic development of the regions and implementation of reforms in those regions and issuance of proposals and recommendations in this direction;
2.1.13. Analysis of the status of economic reforms and implementation of social policy, conduction of research and issuance of proposals by way of development of respective reports;
2.1.14. Cooperation with local, foreign and international economic, financial and other organisations in line with its activity directions;
2.1.15. Analysis and issuance of feedback on the implementation of economic and social programs;
2.1.16. Participation in the design and expertise of the drafts of regional and field development projects;
2.1.17. Commenting and promoting the implemented social and economic development policy and reforms to mass media;
2.1.18. Organisation of the preparation and publication of analytical-information products in the envisaged manner;
2.1.19. Participation in the process of design, implementation and improvement of scientific-technical and economic information system;
2.1.20. Forecasting, study and implementation of analysis of analytic-information demands of the users;
2.1.21. Conduction of internship and master classes on paid and free-of-charge basis for students undergoing education on respective majors within the framework of cooperation with universities;
2.1.22. Participation in the creation of data banks and data bases on scientific-research, design and experimental works, defended theses, registered inventions, trademarks and on individual areas;
2.1.23. Organisation of provision of scientific-research and analytic information products to state bodies, associations, enterprises and organisations, as well as to individual experts on a contractual basis;
2.1.24. Development and improvement of professional training of highly qualified personnel through PhD, master and other pillars of education and their re-development by means of professional development;
2.1.25. Implementation of measures in order to organize activity based on the principle of public-private partnership;
2.1.26. Operate in other directions identified by the minister.
3. Duties and rights of the Institute
3.1. In line with the activity directions envisaged by the Charter of the Institute its duties are as follows:
3.1.1. Participate in the development and implementation of normative legal acts, development concepts and goal oriented programs in the respective fields;
3.1.2. Design scientific-methodological basis of state policy in the field of structure, development, reform and innovation in the economy of the country;
3.1.3. Coordinate the activities of state bodies and enterprises, local self-governing bodies, legal and natural persons in the respective field;
3.1.4. Conduct research on the analysis, assessment, modelling and forecasting of the progress of social and economic development in the country and cooperate with state governing bodies implementing economic development policy and providing them with consultancy services;
3.1.5. Organize electronic services in the respective field in line with the Decree No. 263 of the President of the Republic of Azerbaijan dated 12th, September, 2018 “On the approval of the "Rules for the formation, management, integration and archiving of state information resources and systems" and some measures related to electronic government”;
3.1.6. Review incoming appeals in respect to the activity of the Institute in line with the laws of the Republic of Azerbaijan “On citizen appeals”, “On administrative proceeding” and “On the acquisition of information” and undertake measures in the manner envisaged in the legislation;
3.1.7. Organize clerical work and reception of citizens in line with the requirement of the respective regulatory acts and undertake measures for additional education and professional advancement of the employees of the Institute;
3.1.8. In case of detection of the signs of administrative penalties in the respective field, undertake measures in line with the Code of Administrative Penalties of the Republic of Azerbaijan, in case of the criminal character of the actions, report to the entity concerned;
3.1.9. Ensure that the people are informed about its activities, that its website is established, that the public information to be disclosed, the list of which is determined by the law of the Republic of Azerbaijan “On the acquisition of information”, is posted on the website and constantly update this information;
3.1.10. Organize information supply of the institute and provide for its safety;
3.1.11. Undertake measures for the improvement of the structure and activity;
3.1.12. Guided by the advanced international practice, provide for the application of scientific-technical achievements in the respective field;
3.1.13. Issue proposals for the development of professional staff members and design of training programs in the respective field and participate in their implementation;
3.1.14. Work out the provision of sustainable and dynamic economic development in the country, including the strategy and scientific basis for the implementation of economic reforms;
3.1.15. Participate in the determination of strategic directions on social-economic development of the state and design concepts, programs, proposals and recommendations based on these directions;
3.1.16. Develop the scientific basis for the integration of national economy into the global economic system, for the expansion of cooperation with international organizations, in particular with international economic and financial organisations and for the provision of economic security of the country;
3.1.17. Attract and implement investments in line with its activity directions, develop scientific-methodological and consultative basis in the field of state investment projects;
3.1.18. Develop scientific-methodological and consultative basis of state economic management and finance policy;
3.1.19. Develop scientific and methodological basis in the field of development of entrepreneurship and state support to entrepreneurship policy;
3.1.20. Hold local and international scientific-practical conferences, symposiums and other events for the implementation of economic reforms and research of contemporary economic development problems in the country;
3.1.21. Undertake measures for the protection of state and commercial secret, as well as for the protection of confidentiality regime;
3.1.22. Issue comments and promote economic reforms to mass media;
3.1.23. Organize training and education at the highest level, in line with the existing standards, play the role of the driving force and consultant in the complex education issues;
3.1.24. Collect, work with, maintain and distribute scientific-technical and economic information, develop information reserves, establish information systems, as well as, use information technologies and the means of their provision, conduct research on the scientific-technical information activity, publish information materials;
3.1.25. Provide the effective use of the budget funds, loans, grants and other financial means allocated to the institute in line with the intended purpose;
3.1.26. Issue methodical proposals and recommendations in respect to the activities of different entities, issue separate consensuses with respect to the activities of these entities envisaged in the statutes of these same entities and report to the Minister;
3.1.27. In line with the goals envisaged in the present Charter, engage in business relations with legal and natural persons in the Republic of Azerbaijan and abroad;
3.1.28. Implement other duties determined by the Charter of the Institute.
3.2.The Institute has the following rights to implement its duties:
3.2.1. Sign agreements, acquire property and non-property rights on behalf of the institute and carry out respective obligations as otherwise envisaged in the legislation;
3.2.2. Participate in the development and implementation of normative legal acts, development concepts and goal oriented programs in the respective field, adopt and amend acts, issue comments on acts, issue proposals to the concerned parties on the suspension or liquidation of their force;
3.2.3. Cooperate with international organisations, relevant state bodies (entities) of foreign states in order to explore the opportunities for the application of international experience, study the relevant experience of foreign states;
3.2.4. In case the institute is delegated the responsibility to oversee the compliance with the legislation in the respective field, undertake inspections, implement monitoring, issue binding instructions and undertake other measures stemming from this;
3.2.5. Conduct research on issues associated with its activity directions, establish working groups and commissions;
3.2.6. Submit inquires on necessary data (documents) to state bodies and entities, local self-governing bodies, legal and natural persons and acquire such data (documents) from them;
3.2.7. Issue proposals on the accession of the Republic of Azerbaijan to the international agreements in the respective field;
3.2.8. Issue reviews and proposals on the activity directions, carry out analysis and make generalizations, develop analytical materials and deliver paid consulting services in the respective field;
3.2.9. Attract independent experts and specialists to its activity in the manner envisaged in the legislation;
3.2.10. Hold conferences, consultations, seminars and other events on the issues in respect to the activity directions;
3.2.11. Undertake measures for the nomination of employees for state awards and other awards, and incentivise them;
3.2.12. Obtain from state bodies, legal and natural entities necessary data and references in the manner envisaged within the limits of its authority;
3.2.13. Organise development of highly qualified scientific personnel via post graduate and other education levels;
3.2.14. Issue scientific review in respect to the economic science and in regards to the topical issues of the country’s economy, undertake publishing work in the manner envisaged to publish the results of scientific-research works, scientific articles, lectures and other materials, as well as to print scientific-practical journals, periodic data, books and booklets;
3.2.15. Conduct scientific-research works for legal and natural persons, provide them with consultancy service on a paid basis, develop personnel on a paid basis and provide other services in line with its activities which are not prohibited by the legislation;
3.2.16. Engage in entrepreneurship activity, establish commercial companies or participate in them;
3.2.17. Prepare open and closed references and reports in respect to its activities and submit them to the Minister;
3.2.18. Implement other rights in line with the normative acts and in the manner envisaged by the Minister.
4. Management of the Institute
4.1. In its activity and management the Institute applies progressive corporate management standards.
4.2. The founder of the Institute is the Republic of Azerbaijan.
4.3. With the exception of the founding duties in respect to re-organisation and liquidation of the Institute, other founding duties are implemented by the Ministry.
4.4. The activity of Institute is implemented based on the Charter approved by the Minister.
4.5. The Minister’s responsibilities include the following:
4.5.1. Approval of the charter of the Institute and the amount of charter capital, making amendments to them;
4.5.2. Creation of management bodies of the Institute, appointment to and dismissal from posts of their directors (members)
4.5.3. Approval of annual financial statement, financial planning and budget submitted by the Board of Directors of the Institute;
4.5.4. Approval of the structure, payroll fund, the limit to the number of workers and the amount of their salaries (post salary, additions to the post salary, awards and other payments) submitted by the Board of Directors of the Institute;
4.5.5. Agreement to the establishment and participation in the commercial companies of the Institute, agreement to the establishment of departments, branches and representation of the Institute;
4.5.6. Agreement to the conclusion of the contract (a particularly significant contract) in the amount exceeding 25 percent of the net asset value of the Institute, as well as to the contract with persons associated with the Institute (when the value of the contract comprises 5 or more percent of the assets);
4.5.7. Adoption of the decision envisaged in article 1.5 of the present Charter;
4.5.8. Determination of the number of members of the Board of Directors and the number of Deputy Chairmen of the Board of Directors.
4.6. The Institute is managed by the Board of Directors.
4.7. The Board of Directors implements overall management and supervision over the Institute,
4.8. Members of the Board of Directors are appointed to and dismissed from the posts by the Minister.
4.9. The Board of Directors is composed of 5 people: Chairman of the Board of Directors, First Deputy Chairman of the Board of Directors and three other Deputy Chairmen of the Board of Directors.
4.10. When the Chairman of the Board of Directors is temporarily absent, his/her responsibilities are carried out by the First Deputy Chairman of the Board of Directors, when the First Deputy Chairman of the Board of Directors is absent his/her responsibilities are implemented by the person determined among the members of the Board of Directors by the Chairman of the Board of Directors.
4.11. The duties of the Board of Directors are as follows:
4.11.1. Organisation of the activity of the Institute, determination of its development directions, strategic goals and plans and reporting via the Chairman of the Board of Directors to the Minister;
4.11.2. Issuance of proposals and submission of documents to the Minister via the Chairman of the Board of Directors for the implementation of duties envisaged by the Charter of the Institute;
4.11.3. Submission to the Minister via the Chairman of the Board of Directors the structure of the Institute, the limit to the number of employees, forms and the amount of payment of employment wages;
4.11.4. Hearing of the financial statement and the annual report on the activity of the Institute and submission of the final reports to the Minister via the Chairman of the Board of Directors;
4.11.5. Appointment of the external auditor of the Institute, acceptance of the audit report and its submission to the Minister via the Chairman of the Board of Directors;
4.11.6. Undertaking measures on the results of external auditor inspections, as well as of other inspections;
4.11.7. Adoption of the decision on the conclusion of the contract with a respective person in the value comprising up to 5 percent of the assets of the Institute;
4.11.8. With the agreement of the Minister adoption of the decision on the conclusion of the contract (a particularly significant contract) in the amount exceeding 25 percent of the net asset value of the Institute and on the contract with the respective person in the value comprising 5 percent and more of the assets of the Institute;
4.11.9. Supervision over strategic goals and plans, as well as over the budget of the Institute;
4.11.10. Informing the Minister via the Chairman of the Board of Directors on current and operative issues;
4.11.11. Reviewing the appeals of the members of the Board of Directors and making decisions;
4.11.12. Determining the rules and conditions for exclusion of the conflict of interest upon the activities of the board of Directors and employees and oversees their implementation;
4.11.13. With the agreement of the Minister, adoption of decision on the establishment of and participation in the commercial companies of the Institute, as well as on the establishment of offices, branches and representative offices of the Institute;
4.11.14. Approval of the internal rules (including the rule on the exclusion of the conflict of interest) on the operation of the Institute, as well as the statutes of offices, branches and representative offices and charters of the commercial companies;
4.11.15. Taking measures for the resolution of issues envisaged in subclause 3.1.1 of this Charter;
4.11.16. Implementation of duties identified in statutes and charters of offices, branches and representative offices of the Institute, as well as those of other entities in its subordination;
4.11.17. Adoption of decision on the publishing of sets of scientific works, scientific-practical journals, analytical-information bulletins and other products and on the holding of scientific-practical conferences, consultations, seminars, round tables and other similar scientific gatherings;
4.11.18. Discussion and approval of the main directions of scientific-practical activity, scientific-research works and drafts of training plans and programs of the Institute;
4.11.19. Discussion of issues on the development of scientific personnel and their professional development in line with the requirements of the legislation, approval of the dissertation topics, plans and scientific adviser of PhD and post graduate students, preliminary discussions of dissertation works;
4.11.20. Discussion of thesis and other scientific-research works and issuance of respective reference, development of proposals and raising petitions for the issuance of scientific degrees and titles, establishment of respective scientific councils;
4.11.21. Discussion of cooperation and coordination issues with other scientific-economic departments and adoption of respective decisions;
4.11.22. Provision of effective utilization of funds envisaged in subclause 3.1.23 of this Charter in line with its intended purpose;
4.11.23. Determination of the financial planning and budget of the Institute;
4.11.24. Supervision over the activity of internal audit department of the Institute and acquisition of reports over its activity, as well as appointment and dismissal of its members from the posts;
4.11.25. Adoption of decisions on all the other issues which are not attributed to the authorities of the Founder and Chairman of the Board of Directors.
4.12. The Chairman of the Board of Directors convenes the Board of Directors not less than once in a month and chairs the meetings. The Chairman or the member of the Board of Directors puts forward an initiative to convene the meeting of the Board of Directors. The meetings of the Board of Directors are deemed mandated when more than half of its members participate in the meeting. The meetings of the Board of Directors are duly recorded and the decisions on the discussed issues are adopted. Each member of the Board of Directors is entitled to a single vote at the meeting and the decisions are adopted with the majority of votes. When the number of votes is equal, the vote of the chairing person becomes decisive. During the voting the members cannot remain neutral.
4.13. The members of the Board of Directors and the people invited to the meetings of the Board of Directors are informed in writing about the venue and the time of the meeting, as well as about the issues on the agenda at least 3 (three) working days prior to the meeting with the necessary documentation enclosed. When the agenda of the meeting includes any issue which affects the interests of any member of the Board of Directors, that same member shall provide detailed information on all the interests in regards to the issue and shall not participate in the discussion and voting of that specific issue. No decision on the issues which are not included in the agenda and the relevant documentation in regards of which have not been submitted prior to the meeting cannot be made, unless when all the participating members agree.
4.14. The Chairman of the Board of Directors has the following responsibilities;
4.14.1. Management over current activities of the Institute and its representation;
4.14.2. Organization of the activity of the Board of Directors, determination of the agenda and chairing of the meeting;
4.14.3. Convening the meeting of the Board of Directors with its own initiative or the initiative of another member of the Board of Directors;
4.14.4. Invitation of other people to participate in the meeting of the Board of Directors with its own initiative or the initiative of any other member of the Board of Directors;
4.14.5. Provision for the utilization of the property of the Institute in line with the goals envisaged in this Charter;
4.14.6. Taking of necessary measures for the protection of state secret and confidentiality regime on the activity directions of the Institute, as well as for the protection of other legally protected data;
4.14.7. Approval of the statutes of the structural units of the Institute;
4.14.8. Determination of the structure, staffing and cost estimates of the administrative office of the Institute and of the other structural units within the limits of structure of the Institute, payroll fund and the number of employees;
4.14.9. Organization of the payment of the post salaries, additions to the post salaries, awards and other payments within the framework of payroll fund;
4.14.10. Issuance of binding orders in regards to the organisation of the activity of the institute;
4.14.11. Implementation of transactions on behalf of the Institute, signing of agreements and provision for their implementation within the framework of the authorities determined by this Charter;
4.14.12. With the exception of cases envisaged by the present Charter, appointment to and dismissal from the posts of scientific secretaries, advisers of the Institute, employees of departments, affiliates and representations, as well as appointment to and dismissal from posts of the head of economic companies and adoption of decisions for taking stimulating and disciplinary measures in respect to these employees;
4.14.13. Organization, supervision and oversight of implementation of the acts adopted on the activity directions of the Institute;
4.14.14. Liquidation of his own decisions and those of the authorised staff of the structural units which contradict with the legislation;
4.14.15. Implementation of duties identified in statutes and charters of offices, branches and representative offices of the Institute, as well as of other entities in its subordination;
4.14.16. Establishment of consultative committees and working groups, including expert groups on paid basis on the activity directions of the Institute;
4.14.17. Provision of maintenance of clerical and archiving work, reception of citizens and review of their appeals;
4.15. The duties of the members Board of Directors are as follows:
4.15.1. Participation in the resolution of issues attributed to the authorities of the Board of Directors;
4.15.2. Prior familiarisation with the agenda of the meeting of the Board of Directors and with the issues listed there;
4.15.3. Issuance of opinions on the decisions to be adopted by the Board of Directors;
4.15.4. Issuance of proposals on the review of the issues falling under the authorities of the Board of Directors during its meetings;
4.15.5. Familiarisation with the decisions of the Board of Directors, minutes of meetings and other documents.
4.16. Members of the Board of Directors shall be unbiased towards the issues reviewed in its meetings, they shall not allow for actions which can damage the name of the member of the Board of Directors, and they shall fulfil other requirements determined in article 49 of the Civil Code of the Republic of Azerbaijan.
4.17. The Board of Trustees working on a public basis may be established at the Institute.
5. Charter capital, property of the Institute and basis of its financial activity
5.1. The charter capital of the Institute amounts to 4209963.60 (four million two hundred nine thousand nine hundred sixty three manats, 60 kopecks) manats.
5.2. The property of the Institute is formed at the expense of its charter capital, other property handed over to it by the founder, funds allocated from the state budget, works implemented in line with its activity directions, as well as from other services, donations, grants and other means not prohibited by the legislation.
5.3. The prices of the products (goods, works, services) of the Institute are not regulated (tariffs) prices.
5.4. The Institute uses its property only in line with the goals envisaged in its Charter. The Institute implements its responsibilities in relation to the state property on its balance in the manner envisaged in the respective legislation.
5.5. The Institute has a right to independently dispose of the funds obtained from the activities of the Institute, as well as from the activities of its subordinated bodies after the payment of taxes and other mandatory fees envisaged in the legislation.
5.6. The Institute accepts payments for the delivered services by bank transfer.
6. The form of oversight over the activities of the Institute and coverage
6.1. The oversight over the activities of the Institute is implemented by the Founder, as well as by management bodies of the Institute in the manner envisaged in this Charter.
6.2. The annual report on the activities of the Institute is submitted to the Minister by the Chairman of the Board of the Directors.
7. Accounting and reporting at the Institute
7.1. The Institute maintains accounting, drafts, submits and publishes financial statements in the manner envisaged for public legal entities by the law of the Republic of Azerbaijan “On Accounting”.
7.2. The Institute drafts and submits statistical reports in compliance with the Law of the Republic of Azerbaijan “On official statistics”.
7.3. The Institute provides for the supervision of the financial-economic activity of its offices, branches, representative offices and commercial companies, as well as of other entities under its subordination.
7.4. The Institute engages external auditor for the independent supervision of its activity.
8. Liquidation and reorganisation of the Institute
8.1. President of the Republic of Azerbaijan carries out the liquidation and reorganisation of the Institute.