World Bank Urges Europe and Central Asia to Focus on Technology and Investment for Sustainable Growth

Azerbaijan Caspian Shipping Company (ASCO) has resumed regular cargo and passenger transportation after severe weather conditions disrupted operations in the Caspian Sea, the company said on Monday.

Azerbaijan can overcome the so-called "middle-income trap" by increasing investments, improving the investment environment, and enhancing knowledge and skills, Deputy Minister of Economy Samad Bashirli said in Baku at the presentation of the World Bank’s Global Report World Development Report – 2024 (WDR).

Azerbaijan is now among 54 middle-income countries, said Shahmar Movsumov, Head of the Department for Economic Affairs and Innovative Development Policy at the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku.

Azerbaijan’s Ministry of Labor and Social Protection has introduced regulatory amendments to align existing labor laws with recent legal reforms, the ministry’s Collegium announced in a decision published Monday.