On September 23 the Cabinet of Ministers established transport companies at the heads of the Executive Power of Sumgait and Ganja.
The entities (LLC Sumgait Negliyyat and LLC Gence Negliyyat) will have 20 employees.
The State Committee for Property Affairs of Azerbaijan is tasked to approve the statutes of the companies.
Offices of Passenger Transportation in Road Transport under the Heads of Executive Power of Sumgait and Ganja were created in these cities earlier. In Baku, there is a transportation agency under the Cabinet of Ministers. And LLC Baku Bus at the Executive Power of Baku was set up in 2014. ----08D
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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