The Ministry of Finance of Azerbaijan has approved changes to the Rules of the upper limit of the share of foreign capital in the authorized capital of local insurers.
According to the website of the State Insurance Supervision Service, a schedule has been defined, according to which the upper limit of foreign capital to January 1, 2015 will be 50% (currently apply different restrictions of foreign individuals and legal entities in the capital of insurance companies in Azerbaijan).
From 1 January 2015 the upper limit will be 70%, from 1 January 2016 - 85%, and from 1 January 2017, access for foreign investors to the local insurance market will be completely liberal.
According to the innovation, foreign individuals can also be foreign shareholders of local insurers.
At the local insurance market 28 companies operate and in five of them there is a share of foreign capital. - 17D-
Economics
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The weaknesses of strategic planning in the Azerbaijani land transport sector were revealed during a briefing on improving legislation, which was attended by representatives of the Azerbaijan Land Transport Agency (AYNA) and the Ministry of Digital Development and Transport.
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The Cabinet of Ministers of the Republic of Azerbaijan has made changes to the existing provisions regarding the approval of construction documentation and the service fees for construction. The amendments are guided by Article 119 of the Constitution of Azerbaijan and are aimed at simplifying processes related to construction permits and operations.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved a new procedure for the recruitment of medical personnel to medical institutions included in the state healthcare system. The decision, which comes into force on January 1, 2025, aims to enhance the implementation of compulsory health insurance in the country.
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