Over three quarters of this year registered in Azerbaijan were 5,152 profit entities. According to the committee, 55.5 % of them were established in Baku.
The share of unregistered companies with 100 % foreign capital (388 subjects) and the joint capital (103) was 9.5 %. From the beginning, the government has established 165 enterprises.
As of October 10 this year, the number of individual entrepreneurs has reached 452 thousand subjects.
In July 2012 , after a change in the laws of Azerbaijan "On Commercial Secrets " and "On State Registration and State Register of Legal Entities" of confidential information about the founders, the Tax Ministry has suspended the publication of a monthly review of the mode of registered commercial entities. This prevents access to information about the newly created companies. - 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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