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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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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