Azmont Investments Company increased its registered capital from 66 million to 105 million Euros or 59%. It is reported by the Central Register of Legal Persons of Montenegro.
Raising the capital of the company involved in the construction of a resort complex called Portnovi (http://azmont.com/) was reported on March 24.
Azmont Investments was established in July 2012 in Montenegro by one of the subsidiaries of SOCAR (SAIPH HOLDING B.V. HOLANDIJA). In 2015, 99% of the company Azmont passed into the ownership of JSC Azerbaijan Global Investments (AGI, now transformed into Ltd.).
The founders of AGI (founded in 2013) are Ata Holding (33%), Pasha Development (35%) and Synergy Group (32%).
In November 2015 the company Azmont Investments appealed to the Central Bank of Montenegro with a request for a full banking license. The media of the country note that the appeal has been granted. --08B
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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