Unlocking the Potential of the Middle Corridor: IMF Urges Urgent Measures for Development

The 57th annual meeting of the Asian Development Bank (ADB), which began on May 2 in Tbilisi, Georgia, is centered around the theme "Bridge to the Future," with a significant focus on improving communication and trade relations between Europe and Asia through the "Middle Corridor." The discussions at the meeting are aimed at exploring ways to use this corridor to boost economic growth and integration across the regions.

In an effort to promote long-term financial savings among citizens, the Central Bank of Azerbaijan (CBA) has implemented a series of tax incentives aimed at encouraging the population to maintain their bank deposits over extended periods. At a recent press conference, CBA Chairman Taleh Kazimov highlighted the strategic intention behind the taxation of bank deposits.

The Azerbaijan Institute of Food Safety (AQTI) has unveiled a new initiative aimed at elevating the standard of restaurants across the country while enhancing their appeal to culinary tourists. Dubbed the "Star Rating" project, this program categorizes establishments on a scale from three to five stars based on voluntary participation.

On May 1st, Azerbaijan, Kazakhstan, and Uzbekistan took a significant step towards fostering green energy collaboration by signing a Memorandum of Cooperation aimed at integrating their energy systems. This agreement was finalized during a trilateral meeting of the ministers of economy and energy from the three countries, held in Uzbekistan.