On January 31 President Ilham Aliyev signed a decree (http://president.az/articles/22625), providing for the introduction of amendments to the list of areas of activity for which import machinery, manufacturing equipment and facilities have been exempted from the payment of tax for a period of 7 years since 2016.
Thus, the construction of hotels and so on accommodation facilities requiring an investment of AZN 1 million, catering requiring AZN 100,000 and entertainment facilities requiring AZN 0.5 million outside of the Absheron peninsula can obtain a document on investment promotion.
In addition, investment promotion will be applied to the creation of accommodation means and hostel-type 2-D and 3-star hotels outside of the city of Baku, Absheron and its surrounding area. The minimum amount of investment in these facilities is estimated at 100 thousand manat (hostel) and 2 million manat (hotels).
In April 2016, the President approved the "Spheres of invested economic activity, the minimum amount related to the volume of the investment project, and administrative-territorial units, where it will be implemented." The list (http://ru.president.az/articles/19479) includes 33 areas of economic activity. --- 08D
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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