An official report on the development of local business in the past year has been published, prepared by the Ministry of Economy and Industry.
Last year, the number of businesses in Azerbaijan reached 614 423. Most of them are individuals engaged in business (84.6%), and the rest are legal persons, mostly LLC. The difference also increased - the number of legal entities increased by 9%, while the number of individuals increased by 12.5%.
The main part of the gross domestic product (81.9%) was developed in the private sector, while its share declined slightly - from 85% in 2013.
In industrial production (79.5%) and employment (73.4%) the private sector also leads. This is achieved due to the fact that the major government contractors create many private businesses and order the work to them. --17D-
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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