Azerbaijan changes agricultural equipment leasing rules
Azerbaijan, Baku, Aug. 17 / Trend N.Ismayilova /
The Azerbaijani Cabinet of Ministers introduced amendments and additions to the leasing rules on Aqrolizinq agricultural technology and equipment.
The decision was made based on a proposal by the agriculture, economic development, finance and justice ministries.
According to the amendments, if the purchase cost is over 40,000 manat, then the buyer pays a 10-percent down payment and the remaining sum over nine years. If the price is under 40,000 manat, then the buyer pays a 20-percent down payment and the remaining sum over nine years.
Aqrolizinq operates under the auspices of the Agriculture Ministry.
The company was founded on Oct. 23, 2004 by President Ilham Aliyev. The company's activities aim to improve the agricultural sector and support entrepreneurship by helping landowners lease and acquire various agricultural equipments.
The company has nine regional agricultural service supply bases and over 50 agricultural service branches in Azerbaijan, excluding the occupied territories.
Since its establishment, the company has ensured 9,467 agricultural machines, including 990 grain harvesters, 2,494 tractors, 140 shovels, 5,843 other agricultural vehicles and trailers, and 46 pieces of various technical equipment.
Do you have any feedback? Contact our journalist at: [email protected]