During 6 months, 2012 investments in the capital construction in Azerbaijan totaled 5.89 billion AZN. This is up 29.6% against the same period in 2011.
A source from the State Statistical Committee told Turan that the main part of capital was invested into the non-oil sector - 4.23 billion AZN. This is up 30.2% against the same period in 2011.
4.6 billion AZN (+38.8%) of capital invested into the construction sector falls to the local sources. Houses with total area of about 800,000 sq.m., schools accommodating 360 students, kindergartens accommodating 280 children, hospital with 15 beds and etc. were put into operartion.-0-
Economics
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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Azerbaijan’s labor market has expanded, with the total number of employees in the country’s economy reaching 1.78 million as of early January 2025, according to preliminary data from the State Statistics Committee. The data reveals a nearly equal distribution of employment between the public and private sectors, with 882,800 people working in state-run institutions and 895,700 in the non-public sector.
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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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