LLC "Baku Shipyard" was given the status of a resident of Garadagh Industrial Park (GPP), Turan was told in the Ministry of Economy and Industry. The order on the establishment of the GLP was signed on 3 June this year. By the same document the President instructed the Cabinet of Ministers to prepare proposals for the application of the industrial park in Garadagh other incentives for long-term development of the shipbuilding industry.
Management structure of the GPP is the administration of "Sumgait Chemical Industrial Park," (Schip). Schip is also entrusted with the management of the industrial park Mingachevir. According to the regulations on industrial and technological parks, their residents are exempt from taxes for a period of seven years.
Baku Shipyard has been operating since 2013. The company is able to build four ships with carrying capacity of 15,000 tons each. Its owners are SOCAR (65%), JSC "Azerbaijan Investment Company" (25%), and "Keppel Offshore & Marine" (Singapore, 10%).—08B--
Economics
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In 2024, Azerbaijan’s wheat production reached 1,685.7 thousand tons, reflecting a sharp decline of 148.2 thousand tons compared to the previous year, according to the State Statistical Committee. Wheat productivity also fell by 8.5%, dropping from 33.8 quintals per hectare in 2023 to 30.9 quintals in 2024. These figures underscore a troubling trend for a nation that meets only 25% of its domestic wheat needs through local production.
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Azerbaijan’s Minister of Economy, Mikayil Jabbarov, participated in the "Circle of Leaders: Financing the Energy Transition - New Horizons" session during the World Economic Forum (WEF) in Davos, emphasizing the country’s strategic role in global energy security and its green energy transition initiatives.
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Around 200 employees of SOCAR, Azerbaijan's state oil company, staged a strike in Batumi, Georgia, on January 21,demanding wage increases, local outlet Batumelebi reported. Participants included technicians and staff from various departments who argued that their long-standing minimal salaries fail to reflect their workload.
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On January 21, during a meeting in Davos, Azerbaijani President Ilham Aliyev met with Henrik Poulsen, Chairman of the Supervisory Board of Carlsberg Group, and Jacob Aarup-Andersen, the company's CEO. The discussions emphasized Carlsberg Group's expanding presence in Azerbaijan and its commitment to developing local production and sustainability.
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