The next, VI Azerbaijan International Insurance Forum (AIIF) will be held July 2-3 at the Fairmont Baku.
According to the Chairman of Azerbaijan Insurers Association (AIA) Orkhan Bayramov, registration has already been passed by more than 50 participants.
"It is planned to provide the active presence of more than 250 people in the traditional event. The format may not change. As in previous years, it will last for 2 days, including the cultural program. On the first day, the participants will discuss the creation of new regional insurance products during the crisis. Reinsurance and property insurance (including agricultural insurance) will also be the subject of discussions of the first day, and then the participants will switch to the traditional life insurance and car insurance. In addition, they will discuss still little demanded bank insurance and its prospects," he said. --17D-
Economics
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Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
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The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
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At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
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This year, the plans of the Australian holding Fortescue Future Industries (FFI) for developing "green" projects in Azerbaijan have been adjusted, though negotiations initiated two years ago are ongoing, an informed source told Turan.
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