Baku business environment more favorable than in regions
In Azerbaijan, there are 71,524 small businesses (+3.3% YTD), according to the certificate of business development in the first quarter.
According to the Ministry of Economy and Industry, small businesses account for 81% of local entities.
As of April 1, almost a third (32%) of small ventures are in trade, 12.3% - in agriculture, 12.5% - in construction and repair, and the rest of the employment is negligible.
Most (55.9%) of this segment of entrepreneurs is registered in the capital, and the rest is in the regions of the country.
Due to underdevelopment of a support mechanism for businesses the majority of small ventures do not work, while some of them are closed and re-registered. There is high proportion of tax evasion and concealment of the actual number of their jobs. -17D-
Economics
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Azerbaijan’s Minister of Economy, Mikayil Jabbarov, participated in the "Circle of Leaders: Financing the Energy Transition - New Horizons" session during the World Economic Forum (WEF) in Davos, emphasizing the country’s strategic role in global energy security and its green energy transition initiatives.
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Around 200 employees of SOCAR, Azerbaijan's state oil company, staged a strike in Batumi, Georgia, on January 21,demanding wage increases, local outlet Batumelebi reported. Participants included technicians and staff from various departments who argued that their long-standing minimal salaries fail to reflect their workload.
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On January 21, during a meeting in Davos, Azerbaijani President Ilham Aliyev met with Henrik Poulsen, Chairman of the Supervisory Board of Carlsberg Group, and Jacob Aarup-Andersen, the company's CEO. The discussions emphasized Carlsberg Group's expanding presence in Azerbaijan and its commitment to developing local production and sustainability.
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In 2024, Azerbaijan's "Single Window" Export Support Center processed 1,747 requests from businesses and individuals, facilitating the issuance of 3,982 export certificates. According to Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communications, these efforts supported export operations valued at USD 288.2 million.
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