The Azerbaijan Foundation for Export and Investment Promotion (AZPROMO) will organize a business forum with participation of business delegations from Singapore in Baku Business Center on April 17.
The forum will be attended by representatives of companies working in the field of ICT, logistics, business management, pharmaceuticals, heavy engineering, construction, etc.
In 2014, the trade turnover between Azerbaijan and Singapore was more than $ 101 million. Azerbaijan’s exports (US $ 60 million) consisted only of oil and aviation fuel. About 250 names of goods were imported from Singapore, including mostly metals, electrical equipment, smart cards, oil platforms, parts of excavating machines, etc. ----08D
Economics
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Starting next year, the Azerbaijani government will adopt a new policy towards entrepreneurs who export domestic products abroad but fail to return a portion of their earnings to the country. This issue often concerns Azerbaijani tomatoes sold in Russia. According to National Bank Chairman Taleh Kazimov, decisions to penalize such entrepreneurs will no longer be made without a thorough investigation into the reasons behind the failure to repatriate earnings.
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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.
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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.
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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.
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