In the first quarter of this year, the State Committee on Property transferred ownership of the acquired investment competition by controlling stakes in two joint-stock companies (JSC "Polad Idman Kompleksi" and "Geycay-Toxucu") to the winners.
Sports club "Neqshi-Cahan" acquired 99.8% stake in "Polad Idman Kompleksi" on investment competition on the condition of modernization sports complex in the city Sumgyyyt. On the amount of investment has not been reported. After the transfer of shares in the property, was purchased by a tiny amount at the sports complex of the two employees, and joint-stock company was transformed into a limited liability company.
JSC "AzNar" acquired 30% stake in the nearby JSC "Geycay-Toxucu" with a commitment for a year and a half on this company refrigerating complex. It is planned to invest AZN 1.2 million in this. At the same shares at about 1 million manat got CJSC "AzNar" for 160 thousand manats. Now JSC "AzNar" has more than 99% of the shares of "Geycay-Toxucu".
Since 1998, investment tenders were sold from 85% to 100% of the shares of about 100 AD. The same method was sold on unrealized cash auction 30%-WIDE several packages AD, as well as sports facilities in the form of a property complex. As of 1st April 2013 the ownership of the shares and the property was transferred to winners of competitions from 84 companies. 08B
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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