President Ilham Aliyev signed on July 13 a decree "On additional measures to improve favorable business environment and the country's position in international rankings."
In order to achieve these objectives, a special commission has been created, led by Deputy Prime Minister Yagub Eyyubov, and its secretariat.
The Commission is asked to prepare within two months proposals on improvement of legislation and administration to:
- create a business environment based on competition principles, which will ensure optimum profitability of business;
- improve the country's investment attractiveness;
- improve the country's position in international rankings.
The Commission will present proposals for the adoption of the necessary measures in these areas.
To achieve these objectives the Commission is allowed to attract local and foreign experts, specialists and research institutions, and set up working groups. ---08D
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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