Problems of Entrepreneurs and Ways out of Them Discussed in Baku
A round table on the topic "Some of the problems hindering the development of entrepreneurship and ways to solve them" was held on 28 October. The organizers were the Public Association for Assistance to Economic Initiatives and the Assistance Fund to Entrepreneurship and Market Economy. The event was held within the project "Promoting development of small business in Azerbaijan". The discussion was attended by government representatives, entrepreneurs, independent experts, and representatives of local NGOs.
Azer Mehdiyev informed about the project, which is implemented within four and a half years, and talked about the problems faced by small businesses and the ways of their elimination.
The Vice-president of the National Confederation of Entrepreneurial (Employer) Organizations Vugar Zeynalov noted the need to subsequently discuss the problems of entrepreneurs and their elimination.
The law expert Abil Bayramov made a presentation on "Violation of the presumption of innocence and its impact on businesses."
The expert Samir Aliyev noted positive changes with farmland in the past three years. This regards the facilitation of farmers' land registration procedures. He noted that the notary confirmation of farmers’ documents increases their costs. For land sold at auction farmers have to pay the fee twice, which increases the value of the land. – 08B--
Economics
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Azerbaijan’s oil and condensate production and exports saw a marked decrease during the period from January to September 2024, continuing a downward trend compared to previous years.
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Investments in fixed assets in Azerbaijan totaled 12.7 billion manats ($7.5 billion) in the first nine months of 2024, down 3.9 percent compared to the same period last year, the State Statistics Committee said on Monday. Investment in the oil and gas sector fell by 8.4 percent, while investment in the non-oil and gas sector dropped by 1.6 percent.
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Industrial production in Azerbaijan rose by 1.3% year-on-year in the first nine months of 2024, reaching 47.8 billion manats ($28.2 billion), the State Statistics Committee reported on Monday. The growth was driven by a 0.6% increase in the oil and gas sector and an 8.7% rise in the non-oil and gas sector.
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As of September 2024, the labor market in Azerbaijan has demonstrated active activity, total employment has reached 1,754.9 thousand people. The labor force is almost equally divided between the state and non-state sectors, which employ 878.3 thousand and 876.6 thousand people, respectively, according to the State Statistics Committee.
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