According to the State Statistics Committee, by 1 November capital investments in Azerbaijan's economy amounted to 11 billion 889.2 million manat (nominally minus 26.3%, but really due to the devaluation decreasing twofold compared to January-October of the past year).
According to the directions, it looks like this: facilities were allocated 9 billion 593.3 million manat or 80.7% of total costs, 1 billion 807.8 million manat (15.2%) was invested in service facilities and only AZN 488.1 million (4.1%) – in housing development.
In contrast to the past five years, most of the foreign capital amounted to 59.1% or AZN 7 billion 22.9 million, and local financial injections amounted to 4 billion 866.3 million manat.
More than two thirds (67.3%) occurred in private equity and made up AZN 8 billion 1.5 million. The oil sector was invested 60.5% of all capital expenditures - 7 billion 191.9 million manat. --17D-
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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