BAKU, Azerbaijan, November 29. A total of 285 companies with Azerbaijani capital were registered in Turkiye from January through October 2022, which is 91 companies more than in the same period of the previous year, Trend reports citing TurkicWorld.
During the accounting period, along with the number of registered Azerbaijani companies, their aggregate capital also increased.
"During the accounting period, the aggregate capital of Azerbaijani companies registered in Turkiye totals 113.9 million Turkish liras ($6.1 million), while during the same period in 2021, this rate was 56.6 Turkish liras ($3.4 million)," said in the statement.
The majority of Azerbaijani companies (236) were registered in Istanbul from January through October 2022.
"The aggregate capital of Azerbaijani companies registered in Istanbul totaled 87.7 million Turkish liras ($4.7 million)," said in the statement.
A total of 22 companies from the total number of companies with Azerbaijani capital registered in Turkiye from January through October 2022 operate in the export sector; 17 companies operate in the construction field, and 146 companies operate in the field of wholesale and retail trade. The rest of the companies operate in other sectors of the economy.
Previously, a total of 153 companies with Azerbaijani capital were registered in Turkiye in 2021. Their aggregate capital totaled 42.9 million Turkish liras ($2.3 million).
The majority of Azerbaijani companies were registered in Istanbul in 2021.