The authorized capital of AzMeCo has been reduced to $ 550 thousand, as it is noted in the announcement of Azerbaijani Methanol Company.
The official reasons are not named, but the almost 200-fold decrease in the risk susceptibility level is most likely connected with the lawsuits of Agrocredit in connection with the credit debt of the International Bank of Azerbaijan, whose assets it deals with.
The authorized capital of $ 100 million cannot cover the full debt of the LLC to IBA at approximately $ 500 million and Nizami Piriyev, the owner of the LLC, is not able to pay off the debts. According to experts, AzMeCo assets are more likely to go into SOCAR management, as it is the only organization that can pay the debts of the LLC.
Recall AzMeCo with headquarters in Baku extends within Turkey, Russia, the Netherlands, Uzbekistan and even Afghanistan. Mainly public investment in the suspended methanol plant is approximately $ 500 million. --17D-
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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