In 2016, investment promotion documents were received by 79 business entities, including six individual businessmen, Turan was told in the Ministry of Economy.
The businessmen were issued 84 investment promotion documents. On the basis of these documents, 61 subjects of entrepreneurship received supporting documents.
During the year, the Economy Ministry received 117 applications from 97 entrepreneurs for investment promotion documents.
The decree "On additional investment promotion measures" was signed in January 2016. In the same month, the new provisions of the law ‘On Customs Tariff’ took effect, according to which technologies, manufacturing equipment and facilities imported on the basis of investment promotion documents are exempted from payment of customs duties and VAT. This provision of the law is valid for 7 years.
Moreover, entrepreneurs who have received investment promotion documents will pay 50% tax on profits. They are also exempt from tax on land and property for 7 years. ----08B
Economics
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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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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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