By the decree of the President Ilham Aliyev signed on 11 February the Close JSC "AzerGold" was created. The official statement reads that this , this structure will study and process deposits of non-ferrous metals, as well as their production.
The structure will be lead by the Board appointed by the Cabinet of Ministers and the Ministry of Economic Development, the State Committee on Property. The government should prepare and approve the Regulations of the new organization.
Until now the Ministry of Environment wa in charge for these issues. However, the disposal does not say anything about the transferrence of these functions. -02D-
Economics
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Azerbaijan’s oil and condensate production and exports saw a marked decrease during the period from January to September 2024, continuing a downward trend compared to previous years.
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Investments in fixed assets in Azerbaijan totaled 12.7 billion manats ($7.5 billion) in the first nine months of 2024, down 3.9 percent compared to the same period last year, the State Statistics Committee said on Monday. Investment in the oil and gas sector fell by 8.4 percent, while investment in the non-oil and gas sector dropped by 1.6 percent.
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Industrial production in Azerbaijan rose by 1.3% year-on-year in the first nine months of 2024, reaching 47.8 billion manats ($28.2 billion), the State Statistics Committee reported on Monday. The growth was driven by a 0.6% increase in the oil and gas sector and an 8.7% rise in the non-oil and gas sector.
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As of September 2024, the labor market in Azerbaijan has demonstrated active activity, total employment has reached 1,754.9 thousand people. The labor force is almost equally divided between the state and non-state sectors, which employ 878.3 thousand and 876.6 thousand people, respectively, according to the State Statistics Committee.
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