Baku held a public hearing on Industrialization and Innovative Development.
According to the chief of a department of the Presidential Administration Elkhan Mikayilov, at the first stage of preparation of international experience in the development of 11 sectors of national economies the strategic roadmap of the Azerbaijani economy has been studied, including 8 core and 3 procurement sectors. The next step is the second stage, which will allow identifying specific projects and programs that contribute to the development of the mentioned sectors.
"So, the industry sector provides for the development of oil and gas and chemical industries, heavy industry and mechanical engineering, as well as key industry sectors, where capabilities of small and medium-sized businesses are required. But we still have difficulty with the production of competitive products. In addition, our products are not yet in line with international standards - these two factors are the main export problem. And yet, local businesses should develop management skills. There are problems with pricing, but this is a topic for further discussion," he said.
According to him, despite the increase in the share of non-oil sectors to 70% of GDP, it is not enough for a full exemption from oil dependency that poses new challenges to the state. --17D-
Economics
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The draft law "On Amendments to the Tax Code," adopted in its third reading, provides for tax exemptions on the sale of locally manufactured buses in Azerbaijan and the supply of spare parts for these vehicles. This was reported by the Tax Service under the Ministry of Economy, explaining that the government's initiative aims to support business development in the country by reducing the tax burden. The exemption will come into effect on January 1, 2025, and will remain valid for eight years.
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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