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
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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