At the 22nd auction the State Committee for Property Affairs (SCPA) sold 974.1 thousand shares of two ginneries (JSC Qarabag Pambiq and JSC Saatli Pambiq).
30% packages shares of these JSCs were sold at 50% of face value (AZN 2). Thus, from the sale of shares the state budget will receive 974.1 thousand manat.
In general, in the course of the three auctions in November 2,434,165 shares of six cotton companies were sold.
In September and October SCPA sold blocking stakes in 7 cotton JSCs. 70% share holdings of cotton enterprises were sold in the first State Privatization Program in 1997.
SCPA completed the sale of shares in cotton companies and now all 19 ginneries are owned by private individuals. Control of a minimum of 14 factories is owned by the group of companies MKT Istehsalat Kommersiya, two plants in the Kurdamir and Agdam regions have been privatized by their former Directors, etc. ------08B
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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