On January 18 President Ilham Aliyev issued a decree on additional measures to promote investment to improve the business environment, increase industrial production. The decree approved rules for issuing documentation in the field of investment promotion. Ministry of Economy and Industry is in charge of one month to submit application forms on issue and receipt of documents.
The Cabinet of Ministers have been instructed to submit within three months proposals to bring this into line with the regulations of the decree issued by the president of the country. It is was also instructed to improve the legal laws and regulations, stemming from the decree.—0—
Economics
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The 12th International Caspian Energy Forum commenced today in Baku, organized by the Caspian Energy Club in collaboration with Enermus, bringing together over 500 delegates from across the Caspian-Black Sea and Baltic regions.
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The World Bank has recommended that Azerbaijan cut subsidies in its water sector to enhance system sustainability and address the escalating issue of water scarcity, Stephanie Stollmeister, Manager of the World Bank Representative Office in Azerbaijan, reported.
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Last week, the Central Bank of Russia raised the interest rate from 18% to 19% annually. The decision to increase the rate was made against the backdrop of rising inflation expectations among the public and businesses.
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Azerbaijan’s Cabinet of Ministers has announced a detailed timeline for the mandatory transition of labor contracts to an electronic document format, in accordance with a decree issued by the President of Azerbaijan on June 28, 2024. The resolution, signed on September 17 by Prime Minister Ali Asadov, outlines phased implementation deadlines for different categories of employers, with the aim of modernizing labor documentation and improving efficiency.
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