Azerbaijan’s Banking Sector Trails Behind Neighbors Despite Resource Advantage

A new desalination plant to produce drinking water is set to be built in Sumgait, Azerbaijan, as part of a project aimed at meeting increasing water demands in Baku and the Absheron Peninsula. The project was announced on November 5 during a bid-opening ceremony for proposals submitted in a tender for the plant’s development, according to the Turan news agency.

Heydar Aliyev International Airport (GYD) has solidified its role as a critical transit hub for Azerbaijan, connecting Baku to over 80 international destinations across more than 30 countries. With routes linking major European cities like London, Paris, and Rome, as well as strategic points in the Middle East, Central, and South Asia, the airport has become central to Azerbaijan’s tourism and transit expansion.

Azerbaijan's Energy Minister Parviz Shahbazov has traveled to Italy to participate in the inaugural ministerial meeting of the World Fusion Energy Group (WFEG), scheduled for November 6, 2024, in Rome. The event will be co-chaired by Italian Prime Minister Giorgia Meloni and International Atomic Energy Agency (IAEA) Director General Rafael Mariano Grossi.

Azerbaijan has introduced a new national standard for Environmental, Social, and Corporate Governance (ESG), officials announced during a briefing organized by the Small and Medium Business Development Agency (KOBİA) at the “Baku SME House.” The event featured Ilham Bayramov, Director General of the Azerbaijan Institute of Standardization (AZSTANDART), and Natig Hasanov, First Deputy Chairman of KOBİA, who provided media representatives with detailed information on the standard's benefits for businesses.