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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The Azerbaijani government has adopted new guidelines to facilitate employment for individuals with special social protection needs and those facing difficulties in securing jobs. The resolution, approved on December 29 by the Cabinet of Ministers, outlines targeted programs aimed at job creation through public-private collaboration.
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The Cabinet of Ministers of Azerbaijan has approved new regulations to facilitate targeted employment programs aimed at supporting individuals with special social protection needs and those facing employment challenges. The measures, under the State Employment Agency, seek to enhance job creation in priority economic sectors.
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The Cabinet of Ministers of Azerbaijan has announced key amendments to various regulatory acts to ensure compliance with the law adopted on May 24, 2024, aimed at updating the Tax Code, the Customs Code, and laws on state duties and licensing.
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The Azerbaijani Cabinet has implemented significant changes to energy regulations in line with new laws aimed at enhancing the country’s electrical infrastructure. A decree signed by Prime Minister Ali Asadov on December 29 introduces amendments to several prior governmental decisions and cancels previous regulations, including a key rule on electricity production and equipment operation limits.
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