The CJSC "Azerbaijan Caspian Shipping Company" (Kaspar) plans to decide on the insurer property on its balance sheet before February 29. According to the information on the site of the closed joint-stock company, the winner will be revealed on the basis of open competition.
Kaspar as a CJSC company was established by the decree of the president of the country on 22 October, 2013, when the assets of the Azerbaijan State Caspian Shipping Company and SOCAR Caspian Sea Oil Fleet of State Oil Company were merged. The joint structure includes not only transport, but also specialized ships and shipyards. --17D-
Economics
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Azerbaijan’s oil and condensate production and exports saw a marked decrease during the period from January to September 2024, continuing a downward trend compared to previous years.
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Investments in fixed assets in Azerbaijan totaled 12.7 billion manats ($7.5 billion) in the first nine months of 2024, down 3.9 percent compared to the same period last year, the State Statistics Committee said on Monday. Investment in the oil and gas sector fell by 8.4 percent, while investment in the non-oil and gas sector dropped by 1.6 percent.
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Industrial production in Azerbaijan rose by 1.3% year-on-year in the first nine months of 2024, reaching 47.8 billion manats ($28.2 billion), the State Statistics Committee reported on Monday. The growth was driven by a 0.6% increase in the oil and gas sector and an 8.7% rise in the non-oil and gas sector.
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As of September 2024, the labor market in Azerbaijan has demonstrated active activity, total employment has reached 1,754.9 thousand people. The labor force is almost equally divided between the state and non-state sectors, which employ 878.3 thousand and 876.6 thousand people, respectively, according to the State Statistics Committee.
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