Azerbaijan nearly triples investments in newly-created companies in Türkiye 

The citizens of Azerbaijan established 92 companies in Türkiye in January-April 2023, up 9.5% from the previous year, Report informs, citing the Union of Chambers and Commodity Exchanges of Türkiye (TOBB).

Some 13 companies were joint-stock companies (JSC), while 79 were Limited Liability Companies (LLC).

The total capital of companies created since January 2023 amounted to 92.03 million Turkish lira ($4.602 million), up 97.2% from a year earlier. Of this, 90.7%, or 83.498 million Turkish lira ($4.175 million), fell to the share of Azerbaijan (+2.6 times from a year earlier).

In April alone, the citizens of Azerbaijan founded 23 companies in Türkiye (1 JSC and 22 LLC).

Some 83.5%, or 12.974 million Turkish lira ($0.649 million; 3.6% less than a year ago), of joint ventures with total capital of 15.53 million Turkish lira ($0.777 million; a decrease of 31.8%) fell to the share of Azerbaijan.