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Number of registered legal entities increase 10% in Azerbaijan in 2008

Business Materials 19 January 2009 22:34 (UTC +04:00)

Azerbaijan, Baku, Jan. 19/ Trend N. Ismaylova/

In 2008 the number of registered legal entities increased 8.8% in Azerbaijan and as of Jan. 1 2009 totaled 86,117, the State Statistics Committee said. During the report period, 6,867 new enterprises were established, but 440 enterprises and organizations suspended their activities.

Of liquidated enterprises, 10% fell on agriculture and forestry, 15.5% - wholesale and retail trade, repair of cars, home appliances and personal use goods, 11.4% - real estate, rent and service sector, 11.1% - other communal and social services.

So, 222 enterprises of state property, 181 enterprises of private property, 27 foreign enterprises and three mutual enterprises were liquidated.

Most part of enterprises was established in the sphere of wholesale and retail trade, repair of cars, home appliances and personal use goods. New enterprises total 19.8% in construction sector, 15% in the sphere of real estate services, 22.4% - communal services, 6.1% - agriculture, 5.9% in processing industry and others.

After introduction of registration principle "single window" through the Ministry of Taxes, the number of registered enterprises increased. If nearly 4,000 enterprises were registered annually over the last 5 years, 6,900 enterprises were registered in 2008.

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