The shares of a number of enterprises of SOCAR, operating as joint stock companies, will be put up for sale. This was stated by the President of SOCAR Rovnag Abdullayev.
According to him, work is ongoing in this direction: "We will choose companies with a high yield to motivate the citizens."
Abdullayev said SOCAR is not planning to enter the primary market of shares (IPO).
He also noted that the entry of foreign borrowing and bond issuance are not on the agenda: "The purpose of the bond issue of SOCAR was to redirect the interests paid to foreign investors to domestic investors. Borrowing in foreign markets should be long-term. We don’t have such plans now." -12D--
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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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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