₼1.99 billion to be allocated for the implementation of Azerbaijan's socio-economic development strategy for 2022–2026
Under Azerbaijan's socio-economic development strategy for 2022–2026, ₼893 million is planned to be allocated for financing social initiatives, and ₼1.1 billion for investment projects. In total, ₼1.993 billion is earmarked for these purposes.
This was announced by Minister of Finance Samir Sharifov during a meeting of the Parliamentary Committee on Economic Affairs, Industry, and Entrepreneurship.
The Minister also noted that ₼150 million will be allocated for the implementation of measures outlined in the State Program for the Socio-Economic Development of the Nakhchivan Autonomous Republic for 2023–2027.
Source: AZERTAC
Under Azerbaijan's socio-economic development strategy for 2022–2026, ₼893 million is planned to be allocated for financing social initiatives, and ₼1.1 billion for investment projects. In total, ₼1.993 billion is earmarked for these purposes.
This was announced by Minister of Finance Samir Sharifov during a meeting of the Parliamentary Committee on Economic Affairs, Industry, and Entrepreneurship.
The Minister also noted that ₼150 million will be allocated for the implementation of measures outlined in the State Program for the Socio-Economic Development of the Nakhchivan Autonomous Republic for 2023–2027.
Source: AZERTAC
🔋 Charging Stations for Electric Vehicles to Be Installed in Aghdam
In the next two weeks, charging stations for electric vehicles will be installed and put into operation in the city of Aghdam.
This was announced by Nijat Abdulmajid, Chief Operating Officer of Charge.az, in the Telegram channel "Economy of Azerbaijan".
According to him, two charging stations are planned to be installed in Aghdam during the first stage. Similar charging facilities have already been installed in the city of Shusha. In the future, the plan is to expand coverage to other regions of the country.
In the next two weeks, charging stations for electric vehicles will be installed and put into operation in the city of Aghdam.
This was announced by Nijat Abdulmajid, Chief Operating Officer of Charge.az, in the Telegram channel "Economy of Azerbaijan".
According to him, two charging stations are planned to be installed in Aghdam during the first stage. Similar charging facilities have already been installed in the city of Shusha. In the future, the plan is to expand coverage to other regions of the country.
🇦🇿🇩🇪 Germany Becomes Azerbaijan's Sixth Largest Trading Partner
In January-September of this year, trade turnover between Azerbaijan and Germany exceeded $1.1 billion, making Germany the sixth largest trading partner of Azerbaijan.
This was announced by Yusuf Abdullayev, Executive Director of AZPROMO, during the high-level Germany-Azerbaijan business dialogue on "Green Transformation," organized as part of COP29.
He noted that as of October 1, 191 German-capital companies were actively operating in Azerbaijan. From 1995 to June 2024, the volume of investments from Germany to Azerbaijan exceeded $871 million, 94% of which was directed to the non-oil sector. In return, Azerbaijan also made significant investments in Germany, totaling $592 million.
In January-September of this year, trade turnover between Azerbaijan and Germany exceeded $1.1 billion, making Germany the sixth largest trading partner of Azerbaijan.
This was announced by Yusuf Abdullayev, Executive Director of AZPROMO, during the high-level Germany-Azerbaijan business dialogue on "Green Transformation," organized as part of COP29.
He noted that as of October 1, 191 German-capital companies were actively operating in Azerbaijan. From 1995 to June 2024, the volume of investments from Germany to Azerbaijan exceeded $871 million, 94% of which was directed to the non-oil sector. In return, Azerbaijan also made significant investments in Germany, totaling $592 million.
Energy Efficiency Roadmap Presented in Azerbaijan
As part of COP29, a Roadmap for Energy Efficiency Policy in Azerbaijan was presented at an event organized in collaboration with the International Energy Agency (IEA).
The roadmap, developed under the European Union’s EU4Energy program, outlines the current state of energy efficiency policy in the country and suggests that there is potential to improve energy efficiency in multi-apartment residential buildings by up to 50%. Achieving this potential could lead to annual savings of up to 4.2 billion cubic meters of gas, a reduction in carbon emissions of up to 10 million tons, and the creation of approximately 125,000 new jobs.
As part of COP29, a Roadmap for Energy Efficiency Policy in Azerbaijan was presented at an event organized in collaboration with the International Energy Agency (IEA).
The roadmap, developed under the European Union’s EU4Energy program, outlines the current state of energy efficiency policy in the country and suggests that there is potential to improve energy efficiency in multi-apartment residential buildings by up to 50%. Achieving this potential could lead to annual savings of up to 4.2 billion cubic meters of gas, a reduction in carbon emissions of up to 10 million tons, and the creation of approximately 125,000 new jobs.
18/11/2024
✅ President Ilham Aliyev met with Russian Finance Minister and Faction Leader in State Duma
✅ President of Azerbaijan met with President of Palau
✅ President Ilham Aliyev met with Secretary-General of the Commonwealth
✅ Azerbaijan and Slovakia discuss the activities of the Joint Working Group
✅ Azerbaijan and Germany explored opportunities to enhance business partnerships
✅ VAT will not be charged to citizens when paying for services provided by Apple Distribution International Ltd.
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In January-October 2024, the total value of construction materials produced in Azerbaijan exceeded ₼1.17 billion, showing a 19.6% increase compared to the same period last year.
Production figures for construction materials:
Source: The State Statistical Committee
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💼 Around 70,000 New Jobs Created in Azerbaijan
In January-September 2024, 69,600 new jobs were created in Azerbaijan, marking a 14.3% increase compared to the same period last year.
92.8% of the new jobs were created in the private sector. Of these, 77.4% were in Baku, while 22.6% were in the regions.
Distribution of jobs created by legal entities across industries:
◼️ Construction — 25.9%
◼️ Trade and repair of vehicles — 17.7%
◼️ Manufacturing — 9.3%
◼️ Accommodation and food services — 8%
◼️ Professional, scientific, and technical activities — 6.9%
◼️ Transportation and storage — 6.6%
◼️ Administrative and support services — 4%
◼️ Education — 3.8%
◼️ Agriculture, forestry, and fishing — 3.5%
◼️ Healthcare and social services — 3.3%
◼️ Information and communication technologies — 2.4%
◼️ Other economic activities — 8.6%
Source: The State Statistical Committee
In January-September 2024, 69,600 new jobs were created in Azerbaijan, marking a 14.3% increase compared to the same period last year.
92.8% of the new jobs were created in the private sector. Of these, 77.4% were in Baku, while 22.6% were in the regions.
Distribution of jobs created by legal entities across industries:
Source: The State Statistical Committee
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