Eighteen Public Facilities Sold from Auctions
Seventeen state-owned enterprises and objects and one vehicle were sold from auctions in Baku and regions on November 15. From the privatization of these facilities the state budget received 1.2 million manat, the State Committee for Property Affairs said.
The press service of the Ministry noted that two objects were traded in a competitive environment. For example, non-residential premises in the Nasimi district of Baku at the starting price of 18,000 manat were sold for 45,000 manat.
Stakes in two ginneries and the Research Institute of Olefins were sold.
The next trading (https://goo.gl/tFQcwe) will be held on November 22. They exhibit 78 objects and shares of several companies.
The State Property Committee assures that the auctions are conducted without any outside interference, and any interested investor can participate in them. -----08D
Economics
-
Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
-
Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
-
Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
-
In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
Leave a review