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
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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