Last week, a group of companies "Gilan" established three new companies that will work in the field of agriculture. According to the State Register of commercial legal entities is at the address where the head office of the group of companies "Gilan Holding" (the business center Capital Plaza), founded the company "Gilan Cotton and Grain", "Gilan Vineyards" and "Gilan Agricultural International". The capital of all the companies is 100 manat. The first two companies are headed by a Russian citizen Roman Trofimov. Before that, he was appointed director of several agricultural companies Gilan. Gilan has a lot of companies working in the field of agricultural production, processing and packaging. Holding companies are engaged in viticulture and winemaking, grain and flour production, tea-growing, fruit growing, collection and processing of nuts. The ownership group has more than 3,000 hectares of land for growing a variety of perennial and other crops. Holding has several canneries, a network of textile industry. --08B--
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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