The financial and industrial group Gilan Holding, which unites hundreds of companies and enterprises in Azerbaijan and outside the country, established on October 26 a new trade and distribution company Gilan FMCG Trade and Distribution in Baku.
According to the published information the Ministry of Taxes, the authorized capital of the company is set at 100 manat. The Director of the Company is Tural Alizadeh.
Gilan has several retail and distribution companies engaged in import-export business and distribution of consumer goods. The turnover of these companies is not made public, as the holding company does not publish consolidated financial statements.
Gilan Holding Group is owned by the family of Minister of Emergency Situations Kamaladdin Heydarov. --08D-
Economics
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By the end of 2024, inflation in Azerbaijan is projected at 5.1%, increasing to 5.8% in 2025, as per the Central Bank's announcement. Just six months ago, in April, the bank had forecasted inflation at 3.5% for 2024 and 4.2% for 2025.
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The Cabinet of Ministers of Azerbaijan has approved the charter of the "Tourism and Recreation Zones Management and Development Center," a public legal entity under the State Tourism Agency. The decision, made on November 4, is intended to fulfill the requirements outlined in the presidential decree from August 2, 2024.
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A new desalination plant to produce drinking water is set to be built in Sumgait, Azerbaijan, as part of a project aimed at meeting increasing water demands in Baku and the Absheron Peninsula. The project was announced on November 5 during a bid-opening ceremony for proposals submitted in a tender for the plant’s development, according to the Turan news agency.
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Heydar Aliyev International Airport (GYD) has solidified its role as a critical transit hub for Azerbaijan, connecting Baku to over 80 international destinations across more than 30 countries. With routes linking major European cities like London, Paris, and Rome, as well as strategic points in the Middle East, Central, and South Asia, the airport has become central to Azerbaijan’s tourism and transit expansion.
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