President Ilham Aliyev signed a decree that approved the procedure for granting permits for the import of machinery, manufacturing equipment and facilities by legal entities and individual entrepreneurs who obtained the document on Investment Promotion.
The same decree approved the form (http://azertag.az/store/files/qayda.pdf) of confirmatory document.
Supporting documents provide the investor the right to use the facilities provided by the Tax Code and the law On Customs Tariff. This is an exemption from many taxes and customs duties.
To obtain the permit an investor goes to the Ministry of Economy. The application is accompanied by a list of imported machinery, equipment and structures, and their value in US dollars. The document is available for 7 days. In considering the application the Ministry of Economy examines its compliance with the investment project. The Ministry of Economy informs the Ministry of Taxes and the State Customs Committee on granting the permit within 3 working days. -----08D
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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The CEO of ICGB, the operator of the Greece-Bulgaria Interconnector (IGB), Theodor Georgieva, underscored the critical role of Azerbaijan and other gas suppliers to the European Union in the event of a potential cessation of Russian gas deliveries through Ukraine, speaking to journalists on the sidelines of COP29 in Baku.
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