The State Oil Fund of Azerbaijan (SOFAR) will get the electronic systems of accounting and portfolio management.
According to the State Procurement Agency, the mission is entrusted to the Danish company Sim Corp Ltd. "The two sides signed a contract for implementation of the relevant works worth 8 million 561 thousand 857.2 manat," the statement says.
Sim Corp Ltd headquartered in Copenhagen was founded in 1971 and specializes in software development.
SOFAR was established on 29 December 1999 and is accountable only to the President of the country. It accumulates revenues from the sale of oil contracts. According to official figures, more than half of the funds have been already spent on non-controlled social and investment projects. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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