In January-September, the sector of information and communication technologies of Azerbaijan was invested 209.8 million manats, of which 61.2 million AZN regarded entities and structural units of the Ministry of Communications and High Technologies.
According to the ministry's Board meeting on the results of the first three quarters, so the amount of investment exceeded last year's index 2.2 times.
Total revenues of the ICT sector by October 1 amounted to 1 billion 280.9 million manats (+ 9.6% compared with the same period last year) with weight of 2.1% in the total GDP and 3% in the non-oil sector. At the same time 80.1% of the revenue was received in the segment of private businesses, mostly mobile telecom operators. --17D-
Economics
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Azerbaijan's Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
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Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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