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Armenian Aggression

Minister: Share of non-oil sector in Azerbaijan’s GDP exceeds 70 pct

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By Ayya Lmahamad

The share of the non-oil sector in Azerbaijan’s GDP exceeds 70 percent, Economy Minister Mikayil Jabbarov wrote on his official Twitter page.

Jabbarov underlined that measures are being taken to further diversify the country’s economy in accordance with the economic roadmap by President Ilham Aliyev.

Earlier, the minister stated that revival of Karabakh and integration of the region’s abundant natural resources into the economic system of the country will give a serious impetus to the development of the non-oil sector.

In 2020, Azerbaijan increased the volume of production in the non-oil and gas sector by 12.5 percent. Industrial enterprises and individual entrepreneurs, operating in this sector, produced industrial products worth AZN 37.1 billion ($21.8bn). In the meantime, investments in the non-oil and gas sector in the country decreased by 12.3 percent during the reported year.

It should be noted that the Azerbaijani government has allocated AZN 2.2 billion ($1.3bn) for reconstruction works in the liberated territories in 2021.

Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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Armenian Aggression

Azerbaijan to hold new auction for public property facilities

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By Trend

The State Service on Property Issues under the Azerbaijani Ministry of Economy will hold a new auction on March 30, 2021, Trend reports referring to the ministry.

According to the ministry, 101 public property facilities, including 25 small enterprises and facilities, 36 vehicles, and 40 state share packages of joint-stock companies will be put up for the auction.

The service said that those wishing to participate in such auctions can not only place an electronic order for the selected object of the service but also join the online auction.

Interested participants can visit the Space for the provision of property services of the State Property Service of Azerbaijan on the day of the auction, as well as observe it without registration online.

All those wishing to partake in the auction on the official website of the service (emlak.gov.az) or on the privatization.az portal must, after registering, pay a deposit of 10 percent of the initial auction price of the object, thereby obtaining the status of the customer. On the day of the auction, bidding can be joined by selecting the section ‘Electronic auction’ on the e-services portal (e-emdk.gov.az).

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Armenian Aggression

Azerbaijani Azerenerji reconstructing country’s second largest HPP

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By Trend

Azerbaijan’s Azerenerji OJSC continues measures to eliminate the dangerous situation that has arisen in the reservoir of Shamkir hydroelectric power station, the second largest hydroelectric power plant in the country, Trend reports citing Azerenerji OJSC.

"In order to eliminate the emergency situation, repair work on this reservoir began in 2020, which is carried out by a local company together with experts from Azerenerji OJSC. Work is underway on the reconstruction, concreting, and repair of the reservoir. To date, 90 percent of the work has been completed. Reconstruction of the facility is planned to be completed in April 2021,” said the message.

“In particular, repair and restoration work was carried out at the hydraulic units of the Shamkir HPP, a major overhaul of a block autotransformer with a capacity of 330 kilovolts was carried out. Thus, the "lost" power is restored, the durability and reliability of the installation are increased. The reconstruction of the open switchgear of the Shamkir HPP and the SCADA dispatch control system is also underway,” said the company.

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Armenian Aggression

Turkish president approves one more agreement with Azerbaijan

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By Trend

Turkish President Recep Tayyip Erdogan has approved the ‘Preferential Trade Agreement between the Government of Azerbaijan and the Government of Turkey’, Trend reports.

The agreement has entered into force.

The document was signed in Baku on February 25, 2020.

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