Accord Corporation has established a new company, which will be engaged in the construction industry.
The office of LLC Deutsche Fassaden Technologien is located in one of the headquarters of Industrial Construction Investment Corporation Accord – Baku at 59 Teymur Aliyev Street. Its director Kamil Huseynov occupies leading positions in other structures of the holding.
Perhaps the new subsidiary of Accord also has other co-sponsors. However, since the summer of 2012, information about the structure of the founders of commercial organizations shall be considered confidential.
Accord Corporation was established in 2005 and has subsidiaries and representative offices in six countries, having a controlling stake in 8 local joint stock companies and more than 20 companies in Azerbaijan and other countries. Control of the corporation is carried out by LLC VIP Estate. ---08D
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- Economics
- 24 January 2015 17:42
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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