In the first nine months of this year Azerbaijan registered 6,088 enterprises and organizations, representative offices and branches of foreign companies, which is 33.3% more than in the comparable period of 2015, the State Statistics Committee said.
The share of Baku accounts for 63.3% of the registered companies.
In addition, in January-September were registered over 83,000 individuals engaged in entrepreneurial activities without creating a legal entity. This is by 56.8% more than in the first nine months of last year.
Note that the number of enterprises and organizations registered in Azerbaijan exceeds 100,000. According to the Ministry of Taxes, the majority of them are not functioning. ----08D
Economics
-
Azerbaijan's Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
-
Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
-
The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
-
The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
Leave a review