The Saudi Fund for Development will provide the Azerbaijani government funds for reconstruction and expansion of water and sewage systems in the Khirdalan city (the administrative center of the Absheron district).
Yesterday President Ilham Aliyev approved a loan agreement worth $ 75 million or 281 250 000 dinars in terms of the Saudi money. Recall, the document was signed by the government on July 3 and the parliament ratified it on December 30 last year.
The project will be completed by the end of this year. The customer is the national water operator OJSC Azersu, which should ensure the construction of 3 water tanks with a total capacity of 60,000 cubic meters, water pipelines and networks with a total length 178.5 km, and a sewage system. The project is designed with the prospect of the Khirdalan city development until 2035. --17D-
Economics
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But Putin Says It's "Virtually Impossible" Due to Zelensky's Position Slovak Prime Minister Robert Fico visited Moscow on Sunday to discuss energy issues, becoming the third EU country leader to hold talks with Vladimir Putin since Russia's 2022 invasion of Ukraine. Prior visits include Austrian Chancellor Karl Nehammer in April 2022 and Hungarian Prime Minister Viktor Orbán in July 2024. Slovakia is also a NATO member.
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Environmental, Social, and Corporate Governance (ESG) principles have emerged as a transformative force in modern business practices, reshaping priorities across industries. This was a key theme highlighted by Orkhan Mammadov, Chairman of the Management Board of the Small and Medium Business Development Agency (KOBIA), at the conference "Labor Relations, Occupational Safety, and Human Resources as Key ESG Approaches," held on Monday in Baku.
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A detailed review of legislative norms and e-government services across various business environment domains has been prepared and published by the working group of the Business Environment and International Ratings Commission, focusing on electricity network connections.
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The draft law "On Amendments to the Tax Code," adopted in its third reading, provides for tax exemptions on the sale of locally manufactured buses in Azerbaijan and the supply of spare parts for these vehicles. This was reported by the Tax Service under the Ministry of Economy, explaining that the government's initiative aims to support business development in the country by reducing the tax burden. The exemption will come into effect on January 1, 2025, and will remain valid for eight years.
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