Over the past twenty years, more than $310 billion USD has been invested in the economy of Azerbaijan, with about $200 billion allocated to the non-energy sector.
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Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) has signed a protocol with the Government of Azerbaijan on an action plan to improve tailings dam procedures at the Gedabek mine.
According to the State Statistics Committee of Azerbaijan, as of October 1, since the beginning of 2023, the country’s farms have produced 3.1 million tons of grain crops (including corn).
Azerbaijan needs to diversify its economy away from fossil fuels. One of the ways this can be achieved is by investing in human capital in rural areas.
Azerbaijan plans to establish a state duty for the issuance of two more documents in the field of navigation, as reflected in the draft amendments to the law 'On State Duty'.
In January-August 2023, Azerbaijan conducted trade transactions with foreign countries worth $35.505 billion, 1.1% more than a year ago, Report informs, citing the State Customs Committee.
The economic cooperation between Kazakhstan and Azerbaijan moves to a new level. This was stated at a meeting of the Kazakh Ambassador to Azerbaijan Alim Bayel with Minister of Economy of this country Mikayil Jabbarov.
The Kurdish and Caucasian presidents later met at Zagulba Presidential Residence to discuss bilateral ties in numerous sectors, including economy, investment, and culture.
Prime Minister of the Republic of Azerbaijan Ali Asadov signed the order "On additional measures to strengthen monitoring of inflation and prices".
According to a report on Monday, July 10, a new aluminium beverage can manufacturing and filling plant will come up in Azerbaijan as a joint effort of Hungary, a central European country, and Azerbaijan, a country of eastern Transcaucasia.
Late June was memorable due to serious problems in the monetary markets of Russia and Türkiye, key trade and economic partners of Azerbaijan.
Unfavourable weather in May-June this year slightly delayed the schedule of grain harvest in Azerbaijan, and strong winds and precipitation damaged crops in 15 regions of the country.
On May 17, the Central Bank of Azerbaijan revoked Gunay Bank's license. Although the CBA says the closure of Gunay Bank will have no effect on the banking sector, the fact itself raises a number of questions to the expert community.
The public's response to the announcement of the closure of the International Monetary Fund (IMF) office in Baku has been rather passive.
Belarus and Azerbaijan signed a number of documents on cooperation following the meeting of the intergovernmental commission on trade and economic cooperation in Baku.
"The implementation of the document will give a further impetus for increasing the trade turnover with the brotherly country"
We already wrote about the decline in some major economic indicators of Azerbaijan based on the results of the first two months of the current year. Unfortunately, an analysis of the results of the first quarter confirms that the shortcomings have not been eliminated and are threatening to become a dangerous trend.
According to the document, this is 0.7 percentage points more than the ADB's September forecast.
Azerbaijan, situated at the crossroads of Europe and Asia, presents investors with plentiful opportunities, chiefly in the area of oil and gas, tourism, and agriculture, as well as policies developed to stimulate foreign investment and enhance the investment environment.
The fin-tech says it plans to 'strengthen' its presence in the region, particularly in Azerbaijan and Uzbekistan.
The nation is diversifying beyond oil and gas to create opportunities for UK businesses in green energy, tech, cybersecurity and healthcare.
The European Bank for Reconstruction and Development has summarised its 2022 activities in Azerbaijan, saying it had invested a total of €86 million into the country’s economy last year, channelling finances and technical expertise towards inclusive growth and digitalisation. Some 71% of these funds went into the green economy.
Egypt’s President Abdel-Fattah El-Sisi and his Azerbaijani counterpart Ilham Aliyev underscored the necessity of enhancing trade exchange and bolstering economic partnerships between both countries' private sectors via the formation of a joint businessmen council.
President Abdel-Fattah El-Sisi said he looks forward to increasing public and private investments from Azerbaijan in Egypt, citing the business reforms introduced by the government to facilitate investment procedures.