The is a wage problem in the Sumgait Technology Park (STP) and JSC "Euro-Asian Construction Corporation EVRASCON», which employs several thousand people. Both companies delay salaries for months, according to local media. The STP began repayment of salaries for June; mass layoffs have also begun. One of the dismissed employees Nuraddin Samandarov said Turan, that he and 24 colleagues from the Department of Energy, were "asked" to resign. There are layoffs in other factories STP too.
The problem with the payment of wages is observed in EVRASCON. Employees of corporations, attracted to the construction of Alat-Astara, are not paid salaries. Turan appealed in this regard to the Supervisory Board of the company. Commenting on the situation, a member of the National Assembly Namik Kerimli said that the volume of work carried out by the corporation reduced and customers delay payments, and therefore there are problems with payment of wages. Earlier this year, the credit debts of EVRASCON amounted to 232.7 million manat, of which 67.5 million were attracted from banks. -08B-
Economics
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In late February, the governments of Pakistan and Azerbaijan are expected to sign an investment agreement worth $2 billion, which will include several projects with SOCAR (State Oil Company of Azerbaijan). According to Turan, the energy cooperation projects discussed in January in Islamabad and Baku will feature in the agreement. These projects include energy efficiency initiatives, the construction of a pipeline, and SOCAR’s plans to explore the creation of underground gas storage facilities in Pakistan, as well as documents provided by the Pakistani side related to the exploration and extraction of hydrocarbons in the country.
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Azerbaijan continues to face an acute water shortage that affects both drinking and irrigation supplies, a problem that, despite frequent media attention, remains unresolved. Farmers are particularly feeling the pressure.
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BAKU, Feb 3 (Reuters) - Representatives from Azerbaijan’s State Tax Service (STS) participated in the latest session of the working group on tax, customs, and legal issues hosted by the German-Azerbaijani Chamber of Commerce.
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The Agency for the Development of Small and Medium Enterprises (KOBİA) has issued 192 start-up certificates to entrepreneurs, approximately 50% of whom are youth, according to Orkhan Mammadov, Chairman of KOBİA. The announcement was made at the Fifth Young Entrepreneurs Forum in Baku, underscoring the government's increasing focus on fostering innovation among the nation’s young entrepreneurs.
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