Economic Development in Azerbaijan

[Islamic faith&Secularism]

SOCAR Turkey IPO will happen in 2020

No, as i remember it is planned to happen in 2 years after the invesments will have finished by 2020.

 

[Azeri440]

Austrian, Turkish railway freight carriers sign MoU with Azerbaijan

Representatives of Azerbaijan Railways, Rail Cargo Austria and the Turkish State Railways signed a memorandum of understanding (MoU) in Baku.

The MoU included the development of a competitive, high-speed, intermodal railway network in Europe, the CIS and China.

Azerbaijan Railways reported that Chairman Javid Gurbanov informed the parties about the transport and logistics potential of Azerbaijan, the Trans-Caspian International Transport Route (TITR), the North-South and South-West transport corridors, as well as the newly commissioned Baku-Tbilisi-Kars (BTK) railway that will connect Asia with Europe.

The agreement on creation of the TITR was signed in April 2016 in Baku by the railway authorities of Azerbaijan, Georgia and Kazakhstan.

About 300,000-400,000 containers are expected to be transported via the Trans-Caspian international transport route by 2020, bringing huge financial profits to Azerbaijan. Growing interest in the transport infrastructures passing through Azerbaijan's territory is expected to make the country a major transport hub in the region.

The North-South transportation corridor is meant to connect Northern Europe to South-East Asia and has a strategic importance for the region. It will serve as a link connecting the railways of Azerbaijan, Iran and Russia.

At the initial stage, the North-South corridor will transport 5 million tons of cargo per year with further expansion of transportation to over 10 million tons. Along with making a great contribution to the diversification of Azerbaijan's economy the project is expected to turn the country into a major transport hub.

The BTK railway was constructed on the basis a Georgian-Azerbaijani-Turkish intergovernmental agreement. It is expected that by 2020, the turnover between China and Europe will exceed 300,000 containers per year, and Azerbaijan, through the BTK railway, will be involved in the global transport system.

The official opening ceremony of the BTK railway was held in Baku on October 30.

The railway’s peak capacity will be 17 million tons of cargo per year. At an initial stage, this figure will be one million passengers and 6.5 million tons of cargo.

https://www.azernews.az/business/123927.html

 

[what]

SOCAR Fiber is laying 1800km of Fiber networks along TANAP, from Georgia to our border with Greece. Just stumbled upon this.

 

[Pax Ottomana]

Why has Azerbaijan's GDP per capita been dropping so sharply since 2014 despite oil revenues? I mean, for some reason, it's now become on par with piss-poor Armenia's.

 

[OguzSenturk]

 

[Pax Ottomana]

Ah, okay. Yeah. that makes sense. The same dip at 2014 is also showing up in the GDP PPP graphs of other oil exporting countries like Qatar and Saudi Arabia. It's just way more evident in the case of Azerbaijan.

Man, this makes me glad that Turkey's economy isn't dependent on oil exports.

 

[Azeri440]

SOCAR Fiber is laying 1800km of Fiber networks along TANAP, from Georgia to our border with Greece. Just stumbled upon this.

will be connected to Europe along with TAP

 

[Islamic faith&Secularism]

Despite the troll and baiting attempt, lets continue looking at figures of GDP p/c PPP for the reality in daily life...

Turkish GDP p/c: $14071.17

Despite a very young country that is in a war,given GDP p/c, Azerbaijan still has the highest GDP ppp rate, which also gives some clue about the quality in the life standarts.

Unfortunately, Turkey has the lowest one, thanks to the AKP and Erdoğan for importing anything like live animals (from Serbia) to feed Turks, or straw to feed those imported animals, still an ''industry'' to build roads or bridges to eat when hungry.

 

[Azeri440]

Despite the troll and baiting attempt, lets continue looking at figures of GDP p/c PPP for the reality in daily life...

Turkish GDP p/c: $14071.17

Despite a very young country that is in a war,given GDP p/c, Azerbaijan still has the highest GDP ppp rate, which also gives some clue about the quality in the life standarts.

Unfortunately, Turkey has the lowest one, thanks to the AKP and Erdoğan for importing anything like live animals (from Serbia) to feed Turks, or straw to feed those imported animals, still an ''industry'' to build roads or bridges to eat when hungry.

Azerbaijan is currently going through financial crisis, but the economy will grow again in 2018 due to completion of massive projects such as TANAP, TAP will be completed in 2020 and other projects. Azerbaijan has also been producing oil only for a little over a decade, previously we were just pumping oil for the Soviet Union, and after the independence didn't really have money to build infrastructure. Nevertheless, nowadays, Azerbaijan is funding the biggest energy project in the region, along with being the biggest investor in the region. Azerbaijan still has a long way to go, but compared to how dirt poor the country was just in 2006 - 07 years, we are doing very well.

 

[Pax Ottomana]

Azerbaijan is currently going through financial crisis, but the economy will grow again in 2018 due to completion of massive projects such as TANAP, TAP will be completed in 2020 and other projects. Azerbaijan has also been producing oil only for a little over a decade, previously we were just pumping oil for the Soviet Union, and after the independence didn't really have money to build infrastructure. Nevertheless, nowadays, Azerbaijan is funding the biggest energy project in the region, along with being the biggest investor in the region. Azerbaijan still has a long way to go, but compared to how dirt poor the country was just in 2006 - 07 years, we are doing very well.

Once the situation recovers a bit, I think Azerbaijan needs to take serious steps to diversify its economy. Being too dependent on the global oil/gas prices is never a good idea, especially in a volatile region with Armenia pulling all kinds of tricks to undermine Azeri/Turkish interests.

 

[Azeri440]

Azerbaijan ranks 35th in Global Competitiveness Report

Azerbaijan has moved up two spots to rank 35th in the Global Competitiveness Report 2017-2018 published by the World Economic Forum (WEF), Center for Analysis of Economic Reforms & Communications has told AZERTAC.

In the most authoritative international rating, Azerbaijan has maintained its leadership in the CIS, leaving behind three out of every four countries of the world. Azerbaijan has outclassed even G20 countries, including Italy, Russia, Indonesia, India, Turkey, and the South African Republic in the economic competitiveness index. According to the Global Competitiveness Report, Russia ranks 38th, Kazakhstan 57th, Georgia 67th and Armenia 73rd.

In the Global Competitiveness Report 2017-2018, Azerbaijan improved its position in 9 out of 12 pillars: Institutions (moved up 15 spots to rank 33rd), Infrastructure (moved up 4 spots to rank 51st), Health and Primary Education (moved up 1 spot to rank 74th), Higher Education and Training (moved up 10 spots to rank 68th), Goods Market Efficiency (moved up 19 spots to rank 31st), Labor Market Efficiency (moved up 9 spots to ranks 17th), Financial Market Development (moved up 18 spots to rank 79th), Business Sophistication (moved up 20 spots to rank 40th), and Innovation (moved up 11 spots to rank 33rd). Azerbaijan made the greatest advancement in Business Sophistication pillar – 20 spots.

In Infrastructure pillar, Azerbaijan`s transport system ranks 43rd among 140 countries. In Labor market efficiency pillar, Azerbaijan is the world`s number 17 in terms of the efficient use of talent, outclassing Israel, Ireland, Belgium, Austria and Estonia. In Goods market efficiency pillar, Azerbaijan ranks 32nd in Competition and 31st in Quality of Demand Conditions categories.

Azerbaijan`s position declined only in two pillars – Macroeconomic Environment and Technological Readiness. Despite the impact of external shocks, the country ranks 37th among 140 countries in Government’s Budget category. Azerbaijan also enjoys a strong position in Government`s Debt category – 43rd place. In Macroeconomic Environment pillar, Azerbaijan`s position declined in Inflation category.

The country`s position remained unchanged in Market Size pillar.

https://azertag.az/en/xeber/Azerbaijan_ranks_35th_in_Global_Competitiveness_Report-1097494

 

[Azeri440]

in 2018, Azerbaijan will launch production of Tatra trucks - both civilian and military versions

Sumgait Pipe-Rolling Plant

The Sumgait Pipe-Rolling Plant of the Baku Steel Company has resumed its operation after reconstruction.
The plant’s capacity after the reconstruction increased from 90,000 tons up to 200,000 tons. The equipment installed at the plant was bought from the most leading companies in this field.

Equipment for advanced laboratory was purchased in the U.S., China, Europe and Taiwan.

Pipes, produced at the plant, in addition to their sale at the domestic market will be directed for export. The plant expects to export to Germany, Holland, Belgium, Italy, Austria, Turkey, Russia, Kazakhstan and Ukraine.

The plant is employing currently 531 people, and the average salary in the enterprise is AZN 1,500.

 

[what]

I'm always glad to see new developments in Azerbaijan, but one thing that makes me sad is that there is not that much economic cooperation between companies of both countries. There are so many projects that could benefit both countries right now but cooperation is hardly there. I'm talking about engines or other defence equipment. I wonder if its because of politics or because other countries offer better quality and in the end a country has to do what is best for themselves but one would expect a little more cooperation between companies from both countries. Or at least I do.

 

[Azeri440]

SOCAR buys two companies in Austria

SOCAR told APA-Economics that SOCAR Energy Holdings invests a part of its past five years’ revenues in investment projects in order to increase the capital in downstream, creates synergy with previous investments and expands them. The main goal is to benefit from the potential of new market and bring revenues for Azerbaijan’s economy by diversifying the sources of revenues in the future.

Purchase of A1 network was the next step to expansion strategy of SOCAR. A1 company operates 82 filling stations across the country. The company has 150 employees.

Along with this, SOCAR also bought Pronto Oil Mineralölhandels GmbH.

In order to manage A1 and Pronto Oil Mineralölhandels GmbH, SOCAR Energy Austria LLC was established in Austria. SOCAR plans to exploit the filling stations under that brand.

 

[bedbin]

will be connected to Europe along with TAP

Kardes azerbaycanda akaryakıt fıyatları nı yazsana