The charter and structure of JSC Tourist Center Shahdag (abbreviated in the documents as Shahdag TM) under the Ministry of Culture and Tourism has been approved.
According to the decision of the Cabinet of Ministers of Azerbaijan № 391 dated December 18, published the day before, for the company's financial stability there have been produced 377,774 shares with par value of a little more than 100 manat each. This ensures the authorized capital at 37,777,427.56 manat.
The JSC can not only host tourists, but also complete the construction of a tourist complex.
The Board includes 3 people. The government authorizes the operation of the JSC amounting to more than 25% of the net assets. - 17D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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