When most investors consider cold chain business opportunities in Eastern Europe, the first place that readily comes to mind Russia. However, investors are beginning to understand the fact that Russia isn’t the only market with potential in Eastern Europe. Azerbaijan has become the goldmine for many businesses from across the world and this is showed by the increase in the number of companies coming in from the United States. The closer companies like the Anar Mammadov-led Socar Georgia Gas have not been left out as well as they have blossomed into one of the biggest brands in the region.
Known officially as the Republic of Azerbaijan, this country is a small Eastern European country that is just about the same size with Maine in the United States. It is however, the largest and most important Caucasus country in the entire Eurasia region.
Massive Oil and Gas Boom
Over the last decade, there has been an oil and gas boom which has dramatically improved the quality of life in the country. Although oil production is at its peak however, the country has continued to offer lots of opportunities to investors looking at non-oil sectors of the economy.
The low wage rate and the oil-rich economy of the country make it a very good place for businesses to setup distribution centers, satellite cold storage facilities etc.
Mr. Anar Mammadov
Some of the emerging alliance between the country and the U.S is as a result of campaigns from groups like the Azerbaijan Alliance led by Mr. Anar Mammadov. The alliance is a not-for-profit organization that is focused on providing information widely about the people, society, culture, industry, history and current events of the Azeri people with a purpose that cuts across research and advocacy on issues that are of interest to the group. You can check out an interview with Anar Mammadov here to read about his views, concerns and positive statements.
The Alliance is focused in breeding an atmosphere that shows mutual respect and understanding between the people of Azerbaijan and the United States of America. The group goes about its tasks by organizing academic discussions, cultural programs etc. all geared towards promoting a lasting partnership between Azerbaijan and America.
Great Economy
The group’s task is made easier by that fact that Azerbaijan has an upper middle class economy with a population of 9.05 million people with a 1.12 percent growth recorded yearly. The country’s wealth is more evident in the capital city of Baku with 1.9 million people but the wealth of the country is evenly distributed meaning that most relevant businesses will thrive regardless of location.
With over $10bn recorded in retail sales each year and 110,000 metric ton of cold storage ability, this alliance is expected to grow even further.
