Tue. May 17th, 2022

Producers of export-oriented products in Azerbaijan will be provided with additional privileges when issuing loans.

This was announced by Economy and Industry Minister Shahin Mustafayev at a conference dedicated to the Entrepreneurs Day in Azerbaijan in Baku on April 25.

The government is taking measures towards amending the appropriate legislation, he added. “As a result of measures on developing the business environment, including in the field of ensuring transparency and protecting the interests of businessmen, entrepreneurship has become a driving force of the Azerbaijani economy,” he said.

Recently, the government has been taking significant measures to improve the business climate in the country. Since November 2015, when audit of entrepreneurial activity in Azerbaijan was suspended for two years, only 44 audits were carried out, including 34 – in the first quarter of 2016. In comparison, more than 19,000 checks were conducted in the first quarter of 2015.

“An effective system of the state support, including provision of tax benefits, subsidies, preferential loans for projects, establishment of agro-parks, industrial parks, business incubators, works on enlightenment, organization of business forums and exhibitions and other measures allowed to increase the share of the private sector in GDP to 80 percent, and in the employment – up to 74 percent,” Mustafayev stated.

Furthermore, the number of business entities in Azerbaijan has increased by four times – up to 700,000over the past 10 years.

Promotion of entrepreneurship

Speaking at the event, State Customs Committee Chairman Aydin Aliyev announced that the Committee jointly with the country’s Taxes Ministry has developed a package of proposals to support and promote investment making.

He noted that representatives of other ministries also participated in the development of this package of documents, and these proposals have already been submitted to the Cabinet of Ministers.

“The policy of customs duties and taxes, which aims at supporting the development of domestic production and protecting market, is reviewed in this document,” Aliyev said, adding that the State Customs Committee continues to enhance its activity within the framework of instructions of the head of state, and the first results have already been achieved.

President Ilham Aliyev signed a decree on March 4 on additional measures in connection with continuation of reforms in the customs system.

Azerbaijan’s State Customs Committee and the Ministry of Communications and High Technologies have been tasked to establish postal offices within six months at customs checkpoints for conducting customs debt payments in line with the Article 244.2 of the country’s Customs Code.

Also, the State Customs Committee was instructed to ensure receipt of all declarations in electronic form, mutual exchange of electronic information between different government agencies within two months.

To accelerate the turnover at the customs checkpoints, the Committee was also instructed to create conditions for transportation of goods on the basis of veterinary, phytosanitary, hygienic and other certificates, documents provided in advance by the exporting country.

“We have two months to address issues arising from the order. We have already begun the process of electronic declaration. Other issues, in particular on the creation of “green” corridors, opening of deposits at customs will be resolved in the near future,” he said.

Released lands

Shahin Sadigov, the head of the economy and finance-credit policy department at the Cabinet of the Ministers, believes that it is high time for local entrepreneurs to submit their proposals for the implementation of projects in the Azerbaijani territories liberated from the Armenian occupation.

Sadigov, addressing the event, said that these projects will allow supporting entrepreneurship and economy in Azerbaijan.

“The Azerbaijani society has an ultimate goal – the liberation of our lands. I believe that the second highest goal is the development of non-oil sector and the sustainable development of the economy,” the official said, adding that the major part of the normative documents, which are currently considered by the Cabinet of Ministers, is aimed at the development of entrepreneurship in the country.

Silk Way

The Chairman of the Silk Road Chamber of International Commerce, Lu Jianzhong has invited Azerbaijan to be this organization’s co-chair.

“Currently, 38 countries are the co-chairs of the Silk Road Chamber of International Commerce, and we hope that Azerbaijan will join these countries in the near future,” he said in his speech.

Recalling that on September 9, the Chinese city of Xian will host a summit of the Silk Road Chamber of International Commerce, Lu Jianzhong invited Azerbaijan’s Economy and Industry Minister and the country’s businessmen to take part in the summit.

“The Silk Road Chamber of International Commerce intends to cooperate with various countries, and in this regard we would like to establish similar cooperation with Azerbaijan, and to hold a conference in the country in the near future,” he added.

Lu Jianzhong believes that establishment of entrepreneurs day in Azerbaijan once again proves that the country’s leadership pays significant attention to the business issues.

He also expressed confidence that under the leadership of President Ilham Aliyev, Azerbaijan’s national economy will become much more developed.

Source: Azer News

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