Azerbaijan took the 60th place in the ranking of the most suitable countries for business, compiled by Forbes. According to the publication, from the former Soviet Union in the rating were Estonia (22) and Lithuania (24), Latvia (36) and Georgia (47), Azerbaijan (60), Armenia (56), Kazakhstan (65) Moldova (75) Ukraine (88) and Russia (91).
According to Forbes, Russia's protection of property rights is still imperfect, and the private sector remains subject to heavy state intervention. In addition, Russia's dependence on commodity exports makes it vulnerable in a downturn in demand for raw materials.
Meanwhile, Forbes recognized Denmark as the best country for business in 2014. The top three also includes Hong Kong and New Zealand. In 2013, the rating was headed by Ireland.
The Forbes rating "Best Countries for Business - 2014" includes 146 countries. Their achievements have been studied for 11 positions:
Level of personal freedoms; Degree of protection of property rights and investment; Price stability; Presence of barriers to exports and imports of goods and services; Level of technological development; Introduction of innovations; Degree of influence of the state on business; Corruption; Tax burden and the state of the stock market.
The rating was based on the data Freedom House, Heritage Foundation, Property Rights Alliance, Transparency International, World Bank and World Economic Forum (WEF). -02D-
Economics
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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