On November 29 the auction of the State Committee for Property Affairs (SCPA) managed to sell 19 state-owned property items.
According to the press service of the agency, it sold 6 small enterprises, 3 non-residential premises, vehicles and shares of two joint-stock companies (Metalqab and Zaqatala Kendkimya). The sale of these objects generated 0.5 million manat.
The next auction will be held on December 6.
SCPA noted that the procedure for the participation of investors in auctions is simplified and has created new opportunities. For example, an investor may submit an application and pay the deposit (10% of the starting price of the object) via the www.privatization.az platform. --08D
Economics
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) hosted its biannual Members' General Meeting in Baku on December 18, 2024, gathering over 80 business representatives to reflect on the chamber’s milestones and chart a path forward.
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