INVESTMENT AGREEMENT SIGNED BETWEEN AZERBAIJAN INVESTMENT COMPANY AND BALACANS AGRO FOOD LLC
May 16, 2022
Wide measures in the direction of in the effective use of existing economic potential, development of entrepreneurship, export-oriented industries, expansion of production enterprises and other areas are being taken in Balakan region, where the production of agricultural products is dominating.
Deputy Minister of Economy Niyazi Safarov, Executive Director of “Azerbaijan Investment Company” Ulvi Mansurov, Head of Balakan District Executive Power Islam Rzayev, Chairman of the Board of Directors of “Balacans Agro Food” LLC and Head of Balakan Cannery named after A.A. Ansukhski Abdulgadir Ansukhski have participated at the meeting in Balakan. During the meeting the information on the activities of Balacans Agro Food LLC has been provided and discussions on the realization of the agro-industrial potential and the development of entrepreneurship of the region has been held.
Balacans Agro Food LLC operates in production, packaging (Cappy fruit juice for Azerbaijan Coca-Cola Bottlers LTD LLC, etc.), sales of food products, planting orchards and one-year plants, cold storage and packaging of energy drinks.
An investment agreement has been signed between Balacans Agro Food LLC and Azerbaijan Investment Company (AIC). According to the agreement, AIC will participate in the project on a share basis, which envisages the expansion of production lines, the implementation of various canned salads, compotes, jams, fruit drying and other new investment areas. The project will create about 100 permanent jobs. The company will benefit from the use of the existing agricultural products from the region where it operates in order to export its products to local and foreign markets.
After the signing ceremony, the meeting participants got acquainted with the activities of Balacans LLC.
Latest
Oct 01, 2024
"NORDIC TALKS" Initiative Ahead of COP29 in Baku
News
Nordic Embassies Launch the "NORDIC TALKS" Initiative Ahead of COP29 in Baku
Sep 27, 2024
EU4Digital selects Eastern partner clusters for ESCA benchmarking and quality labelling
News
EU4Digital Facility is pleased to announce that five innovation cluster management organisations from Eastern partner countries have been chosen to receive support to participate in the European Secretariat for Cluster Analysis (ESCA) benchmarking and quality labelling process.
Jul 09, 2024
Azerbaijani President grants new authority to Ministry of Economy - DECREE
News
The President of the Republic of Azerbaijan Ilham Aliyev has signed a Decree “On some issues related to the use of the Registered Exporters System of the European Commission by the Republic of Azerbaijan”, APA reports.
Jul 01, 2024
The first Poland-Azerbaijan Innovative Finance Forum
News
The first Poland-Azerbaijan Innovative Finance Forum took place online on June 27, 2024, and was organized by the Polish Embassy in Baku, Fintech Poland, Azerbaijan Fintech Association and Azerbaijan Banks Association.
Jun 04, 2024
The Launching Event of the EU-Azerbaijan Business Forum 2024-2026 was held in Baku
News
On 29 May 2024, COWI Belgium in collaboration with the Azerbaijan-France Chamber of Commerce and Industry (AFchamber) and InvestBaku, held the Launching Event of the EU-Azerbaijan Business Forum 2024-2026 project funded by the European Union.
May 30, 2024
Exploring Innovation and Entrepreneurship: Insights from Tallinn’s Latitude59 Event
News
Azizaga Atakishiyev, a Green Vet Specialist, shares insights from his recent educational tour at Tallinn's Latitude59 event.
May 08, 2024
Azerbaijan: EIB Global and Bank Respublika sign €10 million loan agreement to boost finance access for small businesses
News
EIB Global, the arm of the European Investment Bank (EIB) for financing activities outside the European Union, has signed a €10 million loan agreement with Bank Respublika to support micro, small and medium-sized enterprises (MSMEs) in Azerbaijan.
May 02, 2024
European Commission Director General to visit South Caucasus
News
European Commission Director General for Neighbourhood & Enlargement Negotiations, Gert Jan Koopman, will travel to Armenia, Georgia and Azerbaijan between 30 April and 4 May to discuss bilateral and regional cooperation and launch new initiatives.
Mar 15, 2024
Commissioner Simson in Azerbaijan: ‘We have made clean energy a key part of EU-Azerbaijan relations'
News
The second Ministerial Meeting of the EU-Azerbaijan Green Energy Advisory Council took place in Baku on 1 March, co-chaired by European Commissioner for Energy Kadri Simson.
Mar 09, 2024
Invest in Women: a spotlight on EU support for women in business
News
As part of its campaign around this year’s International Women’s Day, EU NEIGHBOURS east has brought together all the opportunities available for women in business in Azerbaijan into a series of explainers highlighting the training, advisory and financial assistance available for women in each country, with the support of the EU and its partners.
Mar 07, 2024
New Cargo Airport that will be located at the territory of the AFEZ
News
New Cargo Airport that will be located at the territory of the AFEZ and will serve the needs of AFEZ investors, as well as other clients in international cargo transportation.
Feb 09, 2024
EBRD lends €38.7 million to Azerbaijani shipping company
News
The European Bank for Reconstruction and Development (EBRD) is to provide a $42 million (€38.71 million) loan to the Azerbaijan Caspian Shipping Company (ASCO), a state-owned shipping company in Azerbaijan.