The firm is little known in Azerbaijan. It is also unclear what sources will finance the large-scale project.
The broiler company is to set up 100 new jobs and transfer AZN 2.4 million to the state budget. It will also submit 40,000 privatization vouchers for reimbursement.
The Lebanese company Ruby Rose Group S.A.R.L was debarred from the 99.17% of the Siyazan Broiler shares it owned by the Azerbaijani court in 2006. The court formally explained it with the Lebanese company"s failing to meet the contractual liabilities (it allegedly failed to invest $35 million in the enterprise"s reconstruction). But several experts guess the company was just punished for its financial relations with the former Economic Development Minister, Farkhad Aliyev, who had a wide business network, but is in prison now.
Siyezen Broiler"s authorized capital is AZN 16.7 million. The shareholder list includes 75 physical and juridical persons. The factory was built in 1985. It gives jobs to 1,315 people.--08B-
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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