The Ministry of Taxes canceled the registration for another 5 foreign companies in Azerbaijan.
According to the Ministry of Taxes, they are Distrilab, Buz Alen Hamilton Inc., Grundfos Pompa Sanayi ve Ticaret Ltd., Niko International Ltd. and Makimsan Asfalt Taahhut Insaat Sanayi ve Ticaret Anonim.
The Ministry of Taxes does not give additional information about the closure of the companies and the reasons for their withdrawal from the market.
Last Sunday the oldest European group of luxury hotels, Kempinski discontinued its business in Azerbaijan.
Azerbaijan was also left by Russian Aktavis, British BJ Services Company Middle East Ltd, Swiss Schering Plough Central East AG, Turkapital Holding, Singapore Petro Singapore Trading PTE Ltd., Belgian Puratos, and Royal Dutch Shell Plc. The activities of French Technip Maritime Overseas Ltd and Italian Maccaferri Azerbaijan were suspended. The intention to withdraw from the oil project ACG was announced by ONGC Videsh Limited. Foreign companies and individuals began to take capital away from Azerbaijan after the start of the economic crisis in 2014. --0-
Economics
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Kazakh Energy Minister Almasadam Satkaliyev said on Monday that Kazakhstan and Azerbaijan continue to discuss prospects for transporting Kazakh oil through the Baku-Supsa oil pipeline, which has been idle since spring 2022, Kazakh media reported.
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The supply of Azerbaijani gas to North Macedonia will transition to a regular basis in the mid-term, an informed source told Turan.
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In Azerbaijan, the minimum consumption basket may be reassessed next year. This was discussed during a joint meeting of parliamentary committees. The last changes to the consumption basket were made a decade ago. However, during this period, inflation has risen, and the cost of the minimum living standard has also increased. Moreover, some experts believe that the current minimum consumption basket in Azerbaijan requires significant updates, with the inclusion of additional goods and services.
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Azerbaijan's draft state budget for 2025 prioritizes strategic objectives outlined by President Ilham Aliyev, including economic growth, social development, and reconstruction of liberated territories, according to senior officials speaking at a parliamentary session on Monday.
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