On November 1 will stop for two years the inspections of entrepreneurs. The relevant draft law has sent the head of state on Monday to the country's parliament. According to the report on the website of the President, the right to issue business licenses from the Ministry of Economy will be transferred to the service "ASAN". In addition, the number of activities requiring licensing will be restricted. A week ago at the Cabinet meeting, Ilham Aliyev noted the dominance of corruption and lawlessness in relation to business, and threatened to severely punish corrupt officials, he also noted major structural reforms, which are designed to provide normal conditions for business, and to free them from extortion. -02D-
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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