Data on works in Alat Free Economic Zone made public

A working group has been established to ensure the effective organization and proper coordination of work on the development of the territories of the next stage allotted to the Alat Free Economic Zone.

Textile industry to be standardized - a committee established

The Technical Committee for Standardization of the Textile Sector (Azstand/TK 45) was established by the Azerbaijan Institute of Standardization (Azstand), subordinate to the State Service for Antimonopoly Supervision & Consumer Market Control.

Azerelektroterm's profit observed decline in 2022

Azerelektroterm OJSC has published financial statements for 2022.

If this project is launched, thousands of jobs to open in Dashkesan

According to Boston Consulting Group, the cost of investments in Dashkesan Iron Ore Project is estimated at 1.7 bn manats.

Azerbaijan plans to produce artificial diamonds

Artificial diamonds produced in laboratory conditions are used in many industries, in the manufacture of medical equipment, and in the military industry. The use and application of artificial diamonds is growing rapidly.

AzerGold paid taxes in excess of 38 million manats

In 2023, AzerGold and its subsidiaries paid taxes in the amount of 38.4 million manats.

538 vehicles privatized in Azerbaijan in 2023

Universal Metal published a report - the year ended with losses

Universal Metal CJSC finished 2022 with loss of 708,000 manats.

Last month, business loans from government funds decreased

In December 2023, business loans given at the expense of state funds decreased in Azerbaijan.

Azerpocht's net profit totaled 4.6 million manats last year       

Cost of cash registers imported in Azerbaijan drops by $20 

Minister: Preferential loan for AZN 200,000 given for production of flour products

Azerbaijan is projected to have budget surplus in next two years

Azerbaijan's economic growth declined to about 1.4% in 2023, and we predict that GDP growth will be relatively low over the next two years.

‘World Bank ready to support Azerbaijan regarding COP29'

Azerbaijan discussed digital transformation with McKinsey & Company

Azerbaijan and McKinsey & Company (U.S.) discussed digital transformation in the economy.

Azerbaijan cuts gold production in 2023

Gold production in Azerbaijan totaled 2,614 kg for 2023 (17.7% less than in 2022), ABC.AZ was informed at the State Statistics Committee.

Azerbaijan discussed with Carlsberg localization of production in the country

Azerbaijan and brewing company Carlsberg Group discussed the localization of company's production in the country within the Davos Economic Forum.

Last year, Azerbaijan's economy grew by 1.1%

In 2023, Azerbaijan produced GDP by AZN 123 bn (or by 1.1%) more than a year earlier.

Tax revenues in the NAR increased in 2023

In 2023, the State Tax Service (under the Ministry of Economy of the Nakhchivan Autonomous Republic) received taxes in the amount of more than 164.7 million mantas

Gold production by a British company in Azerbaijan fell by 45%

12.3% of taxpayers registered in Azerbaijan were with foreign investments

In 2023, 87.7% of registered commercial organizations have local investments and 12.3% have foreign investments.