The government intends to transfer the JSC «Dashkesan Filizsaflashdirma» (Dashkesan Mining Plant) in good hands for $ 1 billion. According to the State Committee for Property Affairs, the problem can be solved through the tender announced in the framework of privatization. For these purposes will be attracted an independent consultant, who will develop a series of proposals for investment competition, including the final amount of financial investments, a detailed feasibility study and related research in the field of marketing.
The government has long planned modernization of the enterprise, however, indices which fell sharply (from $ 146 to $59.83 per ton - data for the evening August 12, 2016), the international price of iron ore concentrate influenced the intention to export the products. According to the State Customs Committee, the total exports in January-June this year amounted to $ 3.82 billion, of which the export of ore accounted for $ 6.54 million, or about 104,000 tons, which is twice more than last year. --17D-
Economics
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The Baku International Sea Trade Port, a critical link in the Middle Corridor connecting East and West, handled 7.6 million tons of cargo in 2024, marking a 3.2% increase from the previous year. This growth underscores the port's expanding role in global trade and its significance as a transit hub for countries such as China, Turkey, Georgia, Iran, and Russia.
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Azerbaijan’s state oil company SOCAR has acquired a 3% stake in the offshore SARB and Umm Lulu concession in the United Arab Emirates (UAE) from Abu Dhabi National Oil Company (ADNOC) for $285 million, marking a significant step in deepening energy ties between the two nations. The transaction, completed in May 2024, was completed in January 2025.
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The Baku Small and Medium Business (SME) House and the Miniboss Business School have signed a memorandum of understanding aimed at developing entrepreneurial skills among children, the Small and Medium Business Development Agency (KOBIA) reported on Monday.
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In 2025, Azerbaijan's information security and digital infrastructure remain under pressure, as experts highlight the absence of a National Internet Exchange Point (IXP). Osman Gunduz, head of the NGO Multimediya, has renewed calls for the Information and Communication Technologies Agency (İKTA) to spearhead the creation of a Milli İnternet Mübadilə Mərkəzi (National Internet Exchange Centre) in collaboration with key local providers Azertelecom, Delta Telecom, AzTelekom, and global industry leaders.
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