As of August 1, capital investment in the local economy amounted to 9 075 500 000 AZN (+ 3% over the same period last year).
According to the State Statistics Committee, two-thirds (67.7%) or 6 140 700 000 AZN of total capital investment was aimed at the development of objects of industrial value, the remaining 2 934 800 000 AZN was invested in the construction of the service sector.
Still bigger difference is between the internal (6 429.3 million AZN or 70.84%) and foreign (2 646 200 000 AZN) of investments.
In the oil sector in January-July there was invested 3 453 300 000 AZN or 38.1% of all the capital investments, the remaining 5 622 200 000 AZN was the share of non-oil sector. The share of construction and installation works (72.7% or 6.6 billion AZN with an annual growth of 13%) leads again to think about the control of this segment of the economy.
The share of state-owned enterprises and organizations was 48.5%, private ones - 51.5% of all the investments. -17D-
Economics
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But Putin Says It's "Virtually Impossible" Due to Zelensky's Position Slovak Prime Minister Robert Fico visited Moscow on Sunday to discuss energy issues, becoming the third EU country leader to hold talks with Vladimir Putin since Russia's 2022 invasion of Ukraine. Prior visits include Austrian Chancellor Karl Nehammer in April 2022 and Hungarian Prime Minister Viktor Orbán in July 2024. Slovakia is also a NATO member.
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Environmental, Social, and Corporate Governance (ESG) principles have emerged as a transformative force in modern business practices, reshaping priorities across industries. This was a key theme highlighted by Orkhan Mammadov, Chairman of the Management Board of the Small and Medium Business Development Agency (KOBIA), at the conference "Labor Relations, Occupational Safety, and Human Resources as Key ESG Approaches," held on Monday in Baku.
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A detailed review of legislative norms and e-government services across various business environment domains has been prepared and published by the working group of the Business Environment and International Ratings Commission, focusing on electricity network connections.
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The draft law "On Amendments to the Tax Code," adopted in its third reading, provides for tax exemptions on the sale of locally manufactured buses in Azerbaijan and the supply of spare parts for these vehicles. This was reported by the Tax Service under the Ministry of Economy, explaining that the government's initiative aims to support business development in the country by reducing the tax burden. The exemption will come into effect on January 1, 2025, and will remain valid for eight years.
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