Investors Should Not Be Afraid of Investments in the Internet
Today at Four Seasons there was a conference "Investment environment for business and investment opportunities of the Internet." The event, organized by the Forum and the Internet StartUp, was supported by the Ministry of Communications and Information Technology (MCIT). The main sponsor is the a local mobile operator Bakcell.
According to the president of Azerbaijan Internet Forum Osman Gunduz, the next experience of foreign countries (Russia, Ukraine, Turkey) suggests that on the Internet, you can earn a lot of money, provided the infrastructure, the presence of solid (responsible) investors, along with all segments of this specific type of business. In Azerbaijan, investors invest in trade and the types of services where there is a "quick money." Therefore, Internet lags behind traditional businesses.
Starting opportunities in this field better than the usual sectors of the economy - do not have to pay for rent, have a private office in the stock markets and so on. Yield transactions via the Internet above, however, this requires more knowledge, otherwise the risk factor is multiplied.
The department head of strategic planning, investment and scientific potential of the ministry of Azerbaijan Elchin Zeynalov, usually the first step in the financial contribution to the little-developed types of business does the government. Decree of the President approved the Regulations on the activities of the State Fund for Development of Information Technology at the ministry, also approved rules for the use of the fund for lending, investments, equity in the winners of the design competition. By the way, grants will be provided for projects start up.
In addition, the tax payments and customs duties for a period of seven years will be exempt members of high tech park. It is provided for use in future fiscal and monetary benefits, which will also give impetus to the development of entrepreneurship in the ICT sector. These measures are taken in the framework of the concept of development of this sector of the economy up to 2020. - 17D-
Economics
-
Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
-
Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
-
Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
-
In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
Leave a review