Baku hosts a conference devoted to the establishment of Entrepreneurs Day.
According to the head of the State Customs Committee (SCC) of Azerbaijan Aydin Aliyev, this department and the Ministry of Taxes prepared a joint package of proposals to support and encourage investment directed to the government. The essence of the document is the revision of customs duties and taxes, support of the development of domestic production and protection of the local investors market. Already started the process of electronic declaration, "green corridors” are created and deposits at customs are opened, he said.
At the same time, in his speech, the President of Azersun Holding Abdulbori Gezal told about the problems of access to external markets, although, according to him, they can cover the domestic demand at the expense of their own production.
He considers necessary the reduction in the government’s involvement in commercial activities, reducing it to creating more favorable conditions for private enterprise, including the formation of partnerships with businessmen. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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