Azerbaijan creates conditions for Montenegro's investments in various sectors of economy

Azerbaijan creates conditions for Montenegro's investments in various sectors of economy

Baku, Azerbaijan, June 25

By Matanat Nasibova - Trend:

Diversification of the national economy, implying decrease in energy dependence and the development of the non-oil sector is priority of Azerbaijan’s state policy, Head of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) Yusif Abdullayev said at the Azerbaijan-Montenegro Business Forum held in Baku June 25, Trend reports.

Serious measures are being taken in this direction, including in the sphere of encouraging investments and expanding exports, he added. He noted that real steps are being taken in order to increase the share of the non-oil sector in Azerbaijan’s GDP.

“AZPROMO is doing a big job of attracting foreign investments in Azerbaijan from Europe, including Montenegro, and in turn, Azerbaijan is creating the necessary conditions for investing in various areas of Montenegro,” he said. “The lion’s share of Azerbaijan’s foreign trade turnover accounts for oil and gas; nevertheless, we strive to increase the export volumes of the non-oil segment.”

He added that Azerbaijan has an impressive transit potential, the country is a participant and initiator of the implementation of East-West and North-South transport routes.

The creation of the Baku International Sea Trade Port in Alat settlement, 70 kilometers from Baku, plays a significant role in terms of transit of goods, export and import operations, which is evidence of infrastructure development in Azerbaijan, he said.

According to Doing Business 2019 report, Azerbaijan ranks 25th among 190 countries, he noted, adding that compared to 2018, Azerbaijan improved its indicators by more than 30 points.

Azerbaijan has been ranked among the top countries in the field of reforms carried out in various segments of the economy, he said.

As a result of these reforms, a number of bureaucratic delays were eliminated, licenses for entrepreneurs were issued in the country on the basis of the single window principle, and a number of licenses were abolished in order to facilitate doing business in the country, he noted.

During the exports, no duty is required, it is completely exempt from all types of taxes, he added. He noted the importance of export missions, so that Azerbaijan’s potential partners abroad invest not only goods, but also services in the country.

“To this end, an institute of trade missions has been created, which function in four directions: in China, Russia, the UAE and Eastern Europe,” he said. “Industrial parks have been established in order to invest in Azerbaijan and find local partners. This is while the attitude to a local and a foreign investor is absolutely the same. Our partners can easily repatriate their profits. In a word, Azerbaijan has created optimal conditions for developing the business climate and encouraging the export of foreign investments.”

“Accordingly, our partners in Montenegro can also take advantage of this opportunity, they can invest in Azerbaijan and jointly participate in the development of new business promotion mechanisms in the two countries, with subsequent entry into new markets,” he added.

Weekly actual topics in Azerbaijan (April 16-20)
Weekly actual topics in Azerbaijan (April 16-20)
Weekly tenders in the region (April 16-20)
Weekly tenders in the region (April 16-20)
Last week’s laws, orders and decrees in Azerbaijan (April 16-20)
Last week’s laws, orders and decrees in Azerbaijan (April 16-20)
Loading Bars
Latest
Review of employment activity in Azerbaijan as of May 1, 2020
Uzbekistan siginificantly increases gold exports
Azerbaijan increases import of fruits
Nar 4G users up by 66% over the past year
Georgia reveals ongoing infrastructure projects
UNDP, Switzerland, Austria to distribute protective face shields to Georgia
Electricity generation drops in Georgia
Georgia reports one new COVID-19 case
Volume of loans issued by commercial banks down in Georgia
Tourist flow resumes between Georgia and Czech Republic
TBC Research: PPI increases inflationary pressure in Georgia
Central Bank of Iran reveals inflation forecast
Georgian Jimsher whiskey to be sold in US
Export of Turkey's leather goods to Kazakhstan on the rise
TAV Georgia to expand Batumi Airport
EBRD to finance large-scale project in Georgia
Iran reveals volume of wheat purchased from farmers
Azerbaijan sees growth in retail trade per capita
Iran announces number of dams under construction
Uzbekistan expands supply chain of wild cherries
Azerbaijan increases import of cars two-fold
Italy sees marginal decline of cement import from Turkey
Mudflow protection infrastructure to be built in Turkmenistan
Uzbekistan reveals amount of its transport sector losses due to COVID-19
Turkey reveals data on cargo deliveries to Germany
Azerbaijan records big boost in production of cars
Uzbekistan detects 81 new COVID-19 cases
Malaysia reports 187 new coronavirus cases, no new deaths
President Ilham Aliyev: Azerbaijan is ready for new technologies, innovations
Iran discloses volume of cargo transported by land
COVID-19 cases near 140,000 in Iran
Azerbaijan sees growth in manufacturing of dairy products
India coronavirus cases rise as millions return home
Ukraine looking into importing gas via Southern Gas Corridor
Turkmenistan to take part in meeting of Council of CIS Heads of Government
Kazakhstan's electric power distributing company to buy cables via tender
Kazakhstan's ministry forecasts livestock production increase
Iran’s product export increases via Tamarchin customs
Iran's Chabahar-Zahedan railway’s sections to be put into operation
Azerbaijan may supply hydrocarbons to Europe through Ukraine, says economic adviser
Azerbaijani companies could be engaged in Ukraine’s oil and gas fields’ dev’t: economic adviser
Turkmenistan, Turkey discuss cooperation in trade, economic sectors
Azerbaijan's AIA: Local Bonus-malus system needs serious review
Kazakhstan's monetary base down, latest data says
Tea farmers in Iran earn more as sales to state increase
Azerbaijan may change compulsory car liability insurance rates
Volume of non-bank deposits up in Georgia
Solar panel stations commissioned in Iran's Ardabil Province
Singapore cuts 2020 GDP outlook again as virus batters economy
Ukraine's cargo transportation to Turkey increases
Iranian currency rates for May 26
Turkey records decrease in incoming tourists from Kazakhstan
China’s gasoline demand to return to last year’s levels soon
Turkey's export of goods to China cut almost in half
AzerGold opens tender to buy catering services
Turkey records drop of leather products export to Russia
Rouhani: Iran needs to realize all oil, petrochem projects as soon as possible
Masks too dangerous for children under two, Japan medical group says
Armenia violates ceasefire with Azerbaijan 26 times
Iranian president orders to accelerate railway, road projects
Weekly review of Georgian capital market
Revenues of Georgian Oil and Gas Corporation up
Georgian PM extends Ramadan congratulations to Muslims
Expert talks advantages of Iran's housing trade done via Mercantile Exchange
Public transport service may be resumed in Tbilisi in June
Regional Manager: IFC co-ops with Uzbekistan on planning of future projects
French tennis federation to set aside nine million euros to support professional circuit
Aussie police arrest pair over 400kg of meth stashed in hot sauce shipment
Brazil's Bolsonaro says he expects top court to end probe into his conduct over police
Japan gives up approving Fujifilm's Avigan drug for COVID-19 by May-end
5.2-magnitude quake strikes north of Levin, New Zealand
Singapore cuts 2020 GDP outlook for third time as virus batters economy
More African countries should heed UN call for global ceasefire: Guterres
Spain revises coronavirus death toll down by nearly 2,000
Siemens to initially keep 45% in Siemens Energy after spin-off: sources
Small aircraft crashes in Rome, one passenger missing
WHO suspends hydroxychloroquine, chloraquine trials as COVID-19 treatment
Second Iranian oil tanker enters Venezuelan water
Regeneron to buy back $5 billion stake held by Sanofi
Polish health minister denies wrongdoing in procurement spat
President Ilham Aliyev, First Lady Mehriban Aliyeva view restoration and conservation works at Pir Omar Sultan shrine in Shamakhi (PHOTO/VİDEO)
President Ilham Aliyev, First Lady Mehriban Aliyeva attend opening of orphanage-kindergarten No2 constructed on initiative of Heydar Aliyev Foundation in Shamakhi (PHOTO/VİDEO)
President Ilham Aliyev, First Lady Mehriban Aliyeva view conditions created at multi-apartment buildings constructed in Shamakhi (PHOTO/VİDEO)
President Ilham Aliyev, First Lady Mehriban Aliyeva view transport vehicles and special machinery allocated to Shamakhi district (PHOTO/VİDEO)
No alternative to renewable energy
Former UK PM Tony Blair questions Trump's leadership in coronavirus pandemic
Bosnian Premier League among worst in world for coach stability: survey
Philippines posts five new coronavirus deaths, 284 infections
Azerbaijan's E-PUL payment system grows user base, prepares new project
Azerbaijani Compulsory Insurance Bureau talks priorities in insurance market
Azerbaijani president, first lady view renovation work done on Pirsaat Baba shrine in Shamakhi (PHOTO/VIDEO)
Official talks latest status of Iran-India contract on Chabahar port
Iran expects domestic wheat production to reach 14 million tons
Iran to sell debt securities, to make up for budget deficit
Azerbaijan detects 149 new COVID-19 cases
Production of shoes surges in Azerbaijan
BSTDB, Development Bank of Austria to finance SMEs in Azerbaijan
Azerbaijani President Ilham Aliyev, First Lady Mehriban Aliyeva arrive in Shamakhi district (PHOTO/VIDEO)
TAP updates on compressor and metering stations
TAP: Offshore section not fully completed yet
All news