In the first nine months of this year Azerbaijan registered 6,088 enterprises and organizations, representative offices and branches of foreign companies, which is 33.3% more than in the comparable period of 2015, the State Statistics Committee said.
The share of Baku accounts for 63.3% of the registered companies.
In addition, in January-September were registered over 83,000 individuals engaged in entrepreneurial activities without creating a legal entity. This is by 56.8% more than in the first nine months of last year.
Note that the number of enterprises and organizations registered in Azerbaijan exceeds 100,000. According to the Ministry of Taxes, the majority of them are not functioning. ----08D
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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