The State Statistics Committee has published a report on investment in local industry from January to May. Overall, this segment received 2 billion 475.4 million manat (+ 16% as of 1 May last year), or 50.8% of all financial investments in country's economy.
The majority (85.65%) were investments in the extractive industries - 2 billion 120.1 million manat (+ 18.7%). In water supply, purification and recycling there was invested 161.7 million manat (minus 9.4%), in the processing industry - 152.1 million manat (an increase of 2.1 times), and in the production of electricity, gas and their distribution - 41.5 million manat (minus 57.7%).
In addition, in transport and warehousing there was invested 492 million manat (+ 46.7%), in information and communications - 129.2 million manat (an increase of 3.5 times), in housing construction - 357.3 million manat (an increase of 2.7%), etc. --17D-
Economics
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Azerbaijan's Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
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Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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