Search for Additional Investments in StartUp
StartUp projects will receive additional support to potential investors.
This will be possible in the first half of next year, when a specialized portal will be used. AZN 15 thousand for these purposes will be allocated by the State ICT Development Fund under the Ministry of Communications and High Technologies of Azerbaijan, the information of the organizing committee says.
The resource, which will create a single platform for the registration, will be operating in the Azerbaijani and English languages. The users (mostly, the sponsors) will be able to create their profile and then form teams and find investors. Experts in various fields will be able to create online summaries for employment in ICT projects. The portal will certainly include the sections Services and Investors.
The project is implemented under the state program of implementation of the National Strategy for Information Society Development in Azerbaijan in 2016-2020. --17D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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