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 economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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