62 projects get investment promotion document in Azerbaijan (UPDATE)
Details added (first version posted at 12:10)
Baku, Azerbaijan, Oct. 19
As many as 62 projects by Azerbaijan’s entrepreneurs have received an investment promotion document worth 787 million manats since April 2016, the country’s Economy Minister Shahin Mustafayev said.
He made the remarks Oct. 19 in Baku at the conference “Non-oil exports: today's challenges and opportunities.”
The minister said that currently nine projects worth 55 million manats are also being considered.
“The implementation of these projects will make it possible to open over 5,000 new jobs,” Mustafayev said.
The minister also spoke about the measures being implemented in Azerbaijan to support business.
He said that the National Entrepreneurship Support Fund (NESF) of Azerbaijan granted preferential loans worth nearly 2 billion manats, which made it possible to implement nearly 32,000 projects in various sectors of economy.
At the same time, Mustafayev said that costs required to obtain a certificate of origin were reduced by 30 percent in Azerbaijan, and the time to receive it was reduced from three days to one day.
“Practice shows that in reality, not even a single day, but just two hours are currently needed to obtain the certificate,” he added.
The minister also spoke about the measures being undertaken within promotion of the brand ‘Made in Azerbaijan’ in the global markets.
He said that the first export mission to China (Hong Kong and Guangzhou) is expected in November 2016.
In addition, Azerbaijan’s Economy Ministry will help the country’s entrepreneurs to promote their products in various retailer chains such as Carrefour, as well as in duty-free shops at the airports of the world.