The Ministry of Taxes recorded symmetrically similar to each other two holding companies. At the same time the head of all their 12 member companies with an impressive share capital is one and the same person , and the companies are located at the same address.
According to the State registry of commercial legal entities , Ltd. Blossom Group and LLC Platek Group are headed by Ruslan Ahadov and the companies are registered at the address: Baku, Suleyman Rustam Street, 9. It is noteworthy that the same business center also includes part of the business entities of the group of companies AtaHolding. An informed source told Turan that " the threads of the newly established companies are also leading there." The paid up share capital of each of the companies is 10,000 manat. According to the law "On State Registration and State Register of Legal Entities" from June 2012, information about the founders and their equity participation in companies is not disclosed and is a commercial secret .
Note that in addition to the parent companies LLC Blossom Group and LLC Platek Group also created by the "mirror" principle were Blossom Property, Blossom Pack, Blossom Mart, Blossom House, Blossom Capital and etc. Probably , the founders conceived to spread the risks and to introduce competition for the management of these companies with a view to their effective management. A source, who requested anonymity, told Turan, that the companies registered in the IV quarter of 2013 would declare themselves in the first quarter of this year.
It is noteworthy that in November last year was registered the investment company JSC Azerbaijan Global Investments (paid-up share capital - 100,000 manat). The source noted for Turan that the two groups mentioned above would be managed by this company. 08B
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review