17 foreign-capital and 2 joint ventures closed in Azerbaijan this year

17 foreign-capital and 2 joint ventures closed in Azerbaijan this year
# 24 October 2007 14:41 (UTC +04:00)
During January-September the number of legal entities in Azerbaijan increased by 4/5% to 77,876 as of October 1. The State Statistical Committee said the increase was in the sectors of “Organizations with the Right to Immunity”, “Mining Industry”, “Construction”, “Transport, Warehouse and Communications”, “Education” and “Finance”. 34.7% of legal bodies are involved in wholesale and retail, repair of motor vehicles, household appliances and personal devices, 12.1% in agriculture, hunting and forestry,
The State Statistical Committee noted that the share of privately owned enterprises and facilities is 75.8% in the country. The remaining 14.9% is owned by the state, 3.6% by municipalities, 5.7% are foreign companies and joint ventures.
The state share is above 50% only in distribution of electricity, gas and water and education.
The share of Turkish businesses in foreign-capital companies and joint ventures is 27.6% which is followed by the United Kingdom (11.7%), Russia (6.8%), Iran (6.2%), the United States (5.9%) and Germany (2.9%).
During this period 562 businesses ad organizations were closed, of which 405 are private companies, 17 foreign-capital enterprises and 2 joint ventures.
As to the newly established businesses, the share of the private sector is 87.5%, state sector 3.5%, foreign capital companies 8.7% and municipalities 0.2%.
3,863 new businesses were created during this period, of which 32.5% is involved in trade and service sector, 15.1% in construction, 12.6% in agribusiness etc.
While 53.3% of the previously established businesses were registered in Baku 59.1% of the newly established businesses were registered in Baku during January-September. /APA-Economics/