Aztelecom won all five contests of State Property Committee
The State Property Committee has announced results of five contests to grant on lease non-residential premises in the telecommunication hubs of Aztelecom company of the Ministry of Communcication and Information Technologies in five regions of the country. Azertelecom has been invited winner of all the contests. .
The Committee reported that three pretenders took part in the contests. The names of companies competing with Azertelecom are not disclosed. For rent of 9.24 sq.m. in Zagatala region the company offered 9 instead of 6.55 AZN of the starting rental fee per sq.m.
Azertelecom is the telecommunication operator in Azerbaijan. The company was established in 2008 to work at the landline communication, internet and data and voice communication market. The network of Azertelecom connects Azerbaijan with the neighbors on the north, South, east and west of the country – Russia, Georgia and Iran.
The shareholders of Azertelecom are Azerfon (95%), Azertelecom (2.5%) and Baku Telephone Network (2.5%).—0—
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review