An international conference on investments with the support of the Islamic Development Bank Group has opened in Baku.
According to Economy Minister Shahin Mustafayev who spoke during the opening, the bilateral relations were established in 1992. During this time the bank invested $1 billion in Azerbaijan's economy for the implementation of 18 projects, 14 of which have already been completed. In addition, the Islamic Corporation for Development of Private Sector (ICD) has spent $ 130 million within 14 projects, focusing on support for small and medium-sized businesses.
Speaking about the oil industry, the Minister said about its attractiveness to foreigners - they got a double dividend income from invested shares. In addition, the International Court of Arbitration has not yet received complaints in connection with the claims of foreign investors, because their funds are guaranteed at the governmental level.
Recall, from 1995 to 2016 the total volume of financial investments in the economy of the country was at the level of 184 billion 75.2 million manat (average rate of $ 219 billion 216.2 million, almost half of which ($ 106 billion 195.9 million) fell on the share of foreign partners.
The conference is attended by 50 foreign investors. --17D-
Economics
-
The Cabinet of Ministers of Azerbaijan has approved a new Unified Tariff Schedule to determine the monthly salaries of public sector employees financed through the state budget. This decision, outlined in Decree No. 540, comes into effect on December 26, 2024, and is aimed at standardizing wages in the public sector.
-
On December 27, Azerbaijani President Ilham Aliyev has signed a decree to dissolve the Azerbaijan Industrial Corporation (ASK) and transfer its key assets to the Azerbaijan Investment Holding (AIH), marking a significant step in streamlining the management of state-owned enterprises. The decision, effective immediately, aims to address regulatory issues and enhance operational efficiency.
-
President Ilham Aliyev signed a decree on 27 Desember to implement the law on the 2025 State Social Protection Fund budget, setting forth measures to ensure the effective execution of the fund’s financial framework.
-
Azerbaijani President Ilham Aliyev has issued a decree to implement amendments to the country’s Tax Code, approved by Parliament on December 16, 2024, under law number 98-VIIQD. The decree, published on Friday, is aimed at optimizing tax administration and strengthening the legal framework outlined in the revised legislation.
Leave a review