Media Review - November 7, 2019

The development of the non-oil sector, low-quality syringes in the Azerbaijani market, and dividends by shareholders of Holcim-Azərbaycan OJSC are topics of today's media.

The newspaper Azerbaijan writes about the growth of exports of non-oil products.

This issue is one of the main objectives of the reforms. Over the 6 months of this year, growth in the non-oil sector amounted to 3.2%. In January-September of this year, the export of non-oil products amounted to $ 1 billion 433 million. Compared to the same period last year, this is 17% more.

The website Modern.az writes about low-quality syringes in the country's market, discussing this issue with MP Vahid Ahmedov. The annual need for syringes for Azerbaijan is 140 million. The annual production capacity of syringes in the Pirallahi plant is 150 million. In May, the plant was opened, but the company produced only 5 million syringes and they have not yet been put on sale. For this, syringes must undergo laboratory analysis and obtain a certificate. All this had to be done on time; then there would be no problems. The cost of syringes imported from China is 3 qepiks, and local syringes will cost 6 qepiks, the author writes.

The website Marja.az writes about the situation at the Holcim Azərbaycan plant and the dissatisfaction of minority shareholders with this Swiss company. The shareholders gathered in front of the Swiss Embassy in Baku to express their dissatisfaction with the violation of their rights and the non-payment of dividends. For 20 years of its work in Azerbaijan, this company paid dividends only 4 times. The company has approximately 95 million of retained earnings. Of this money, dividends should be paid to shareholders. The disappointed shareholders are almost 320 people. Holcim Azərbaycan builds a new plant on credit. That’s why it cannot pay dividends, the company explains.    -0-