The State Committee on Property has put up for investment competition a 30.03% stake in JSC Agdash Pambig. The shares not sold since 1998 are offered to investors at 19% of the face value (645.4 thousand manat).
The only requirement to the applicants is to provide proposals to improve the activities of the cotton plant, employing 10 people.
The controlling stake in JSC Agdash Pambig belongs to the Swiss company Jecot.
According to the State Statistics Committee, 27 hectares were allotted for cotton in the Agdash region in 2014, which is 210 hectares less than in 2013. In 2000, the cotton growers of the area sew cotton on 1,652 hectares. In the past year this area picked 81 tons of cotton, 2 times less than in 2013.
Jecot controls two more cotton mills in Azerbaijan. ----08B
Economics
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The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has reported a 3.3% increase in its gold investments compared to last year, according to the fund's investment activity results for the second quarter of 2024. Gold investments now account for $8.57 billion, or 14.8% of SOFAZ's US Dollar Portfolio.
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Azerbaijan's Minister of Digital Development and Transport, Rashad Nabiyev, announced on the social network "X" that during the visit of Israel's Minister of Regional Cooperation, David Amsalem, to Azerbaijan, discussions were held on cooperation in innovation, space, and aviation.
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Azerbaijan is bracing for heightened expectations of currency devaluation as declining oil revenues and mounting inflationary pressures fuel concerns over economic stability, experts warn.
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A delegation led by Azerbaijan's Minister of Economy, Mikayil Jabbarov, met with key Italian officials during an official visit to Italy, highlighting the strong and multifaceted partnership between the two countries.
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