Commission to Enhance Favorable Business Environment in Azerbaijan
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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Azerbaijan is poised to increase wheat imports for the 2024-2025 season following a significant drop in domestic wheat production this year. According to data from the State Statistics Committee, the country harvested 1.68 million tons of wheat in 2024, marking an 8.1% decline from the previous year. This downturn in output, combined with rising import volumes in recent months, indicates that Azerbaijan may lean more heavily on foreign suppliers to meet its wheat needs.
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Azerbaijan Railways CJSC (ADY) has announced the restructuring of its container transportation management in an effort to enhance the efficiency of transit cargo transportation. As part of this reorganization, ADY Express will merge with ADY Container starting on November 1, 2024. The consolidation is aimed at expanding the range of services offered in both container and carriage transportation.
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Azerbaijan has introduced a legal framework enabling the electronic state registration of legal entities with foreign investments, regardless of whether their founders are individuals or legal entities, according to the State Tax Service. The announcement was made by Samira Musayeva, Deputy Head of the State Tax Service, during a meeting of the "Entering Business" Working Group.
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The World Bank aims to deepen its involvement in Azerbaijan's economic development through a new partnership framework program, according to discussions between Azerbaijani officials and World Bank representatives. The proposed framework, which will cover the years 2025-2029, is designed to support the country’s transition to an innovative and less resource-dependent economy.
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