In the first quarter of 2015, 1,714 legal entities were established in Azerbaijan and the total number of state, municipal and private commercial entities reached 96.4 thousand by 1 April.
According to the State Statistics Committee, for the three months 24 state and 32 municipal enterprises were set up and 43 SOEs were closed down. This year 147 companies with foreign capital have been established.
The analysis of the data on commercial legal entities released by the Ministry of Taxes shows that about 70% of the new companies are created by a group of individuals involved in questionable transactions and terminated later. In the first quarter of this year the state register of commercial legal entities excluded 130 subjects, including 87 private enterprises, with foreigners involved in the capital of 17 of them. --08D
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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