Baku has started a conference "Non-oil exports: today's challenges and opportunities." Azerbaijan's Minister of Economy Shahin Mustafayev, opening the event, said the main trend of reform in this area is a thousand-fold reduction in the number of inspections of business entities (by October 1 last year the number was 50,000, while this year it was 50).
Speaking of the Ministry’s new practice of issuing investment promotion instruments, he reported that since March such benefits have been received by 62 local entrepreneurs and the total volume of investments for such projects exceeded AZN 800 million.
In addition, the National Fund for Support to Entrepreneurship (NFES) has issued about AZN 2 billion through banks to entrepreneurs, financing 32,000 projects.
Speaking about the export of non-oil sector products, he reported on reforms in the customs system, where there is transition to electronic declaration, in addition to perpetual business licenses. --17D-
Economics
-
Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
-
Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
-
Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
-
The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
Leave a review