In October, Local StartUp to Be Shown to World in Ireland
StartUp Socset.com of Azerbaijan along with 250 successful projects from around the world will be presented at the International Conference Web Summit 2013 (Dublin, 30-31 October 2013). The local project, being an instrument of collecting information in social media, will allow users to gather statistical data reflecting the measurement of brand promotion in social networks.
The target audience of this StartUp is Professional Marketing and PR. The project could reflect statistical information in such social services as Twitter, Facebook, LinkedIn, Google Plus, Pinterest, StumbleUpon, Delicious, VKontakte, Classmates, Mail.RU, Reddit, etc. Another feature of the StartUp is to use keywords to measure popularity of social media.
The creators of Socset.com are Amid Guliyev, Shaig Muradov, Rashid Safarov and Sadiq Muradov representing the local market team Labrin. They will present a new project at the conference Web Summit 2013 (one of the biggest events StartUp with representatives from Skype, Google, TechCrunch, Zynga, Seedcamp, and many major European incubators StartUp).
The conference will discuss the prospects of the business in the Internet, a new development strategy StartUp Venture Capital, web future technologies and platforms, as well as a number of other issues related to the StartUp. - 17D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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