The Ministry of Taxes has signed an agreement with the Turkish construction company Tekfen Inshaat for the construction of its new head office.
According to Tekfen Inshaat, the contract worth 150 million AZN provides reinforced concrete works, installation of steel structures and external cladding of the building.
The height of the 33-storey building will be 169 meters, the enclosed area will be 44,200 square meters, and the open area will be 30,000 sq. m.
Tekfen has been operating in Azerbaijan since the 1990s. Its latest creations were SOCAR Tower and the Olympic Stadium located on Heydar Aliyev Avenue in Baku. -0--
Economics
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The Baku International Sea Trade Port, a critical link in the Middle Corridor connecting East and West, handled 7.6 million tons of cargo in 2024, marking a 3.2% increase from the previous year. This growth underscores the port's expanding role in global trade and its significance as a transit hub for countries such as China, Turkey, Georgia, Iran, and Russia.
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Azerbaijan’s state oil company SOCAR has acquired a 3% stake in the offshore SARB and Umm Lulu concession in the United Arab Emirates (UAE) from Abu Dhabi National Oil Company (ADNOC) for $285 million, marking a significant step in deepening energy ties between the two nations. The transaction, completed in May 2024, was completed in January 2025.
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The Baku Small and Medium Business (SME) House and the Miniboss Business School have signed a memorandum of understanding aimed at developing entrepreneurial skills among children, the Small and Medium Business Development Agency (KOBIA) reported on Monday.
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In 2025, Azerbaijan's information security and digital infrastructure remain under pressure, as experts highlight the absence of a National Internet Exchange Point (IXP). Osman Gunduz, head of the NGO Multimediya, has renewed calls for the Information and Communication Technologies Agency (İKTA) to spearhead the creation of a Milli İnternet Mübadilə Mərkəzi (National Internet Exchange Centre) in collaboration with key local providers Azertelecom, Delta Telecom, AzTelekom, and global industry leaders.
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