Amendments to the Law "On the register of real estate" were adopted.
According to the decree of the President, the information system of the state immovable property registry is integrated with analogues of the Central Bank of Azerbaijan, the Financial Market Control House, mortgage funds, banks and other financial organizations.
The deadline for registration of property rights and the provision of extracts from the register is reduced by half - to 10 working days, but on work on inventory and surveying permitted extension for another 5 days (total of two weeks).
There is also a reduction from 5 to 3 working days for consideration of documents for the registration of a mortgage facility, and in the case of suspension of the property rights by the State Register, the period of notice of officials is brought to 7 business days (earlier this was allocated 10 days). --17D-
Economics
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This year, Azerbaijan has experienced a significant increase in passenger traffic: from January to November, 3,230,224 travelers arrived from 41 countries, marking a 32.9% increase compared to the same period last year. This growth, reported by the State Tourism Agency, underscores the country’s rising prominence as a regional tourism hub, particularly against the backdrop of ongoing restrictions on crossing land borders.
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The Azerbaijani government anticipates fluctuations in the production of propylene, a key raw material for plastics and related products, in the coming years. According to the country's socio-economic development forecasts for 2025-2028, production levels are expected to vary, reflecting the complexity of the chemical sector and its links to broader energy markets.
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Kazakhstan has achieved significant growth along the Trans-Caspian International Transport Route (TITR), with cargo volumes increasing by 68% and container shipments soaring 2.7 times during the first 10 months of 2024. These figures, announced by Kazakhstan's Minister of Transport Marat Kabaev during a regional development meeting in the Mangystau region, highlight the crucial role of the Middle Corridor in connecting China with Europe.
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On December 9, Azerbaijani President Ilham Aliyev signed a decree approving the protocol of amendments to the Agreement on Strategic Partnership for the Development and Transmission of Green Energy. The agreement, involving Azerbaijan, Georgia, Romania, and Hungary, aims to strengthen cooperation in sustainable energy across the region.
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