On June 8 came into force criteria of large, medium and small businesses, approved by the Cabinet of Ministers of Azerbaijan.
According to the report on the government website, the criteria were adopted in accordance with the requirements of the law "On regulation of business checks and protect the interests of entrepreneurs", which entered into force in 2013.
According to the document, the Ministry of Taxes is instructed to submit to the State Statistics Committee data on the annual income of businesses (not later than 20 April of the following year). The same data in the same time frame will be received by the Ministry of Labour and Social Protection, which will be submitted figures on the number of employees.
The State Statistics Committee no later than 10 May of the following year will classify entrepreneurs based on the approved criteria and present this list to the single register of data on inspections conducted in the field of entrepreneurship. --17D-
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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