Doing Business in Azerbaijan 2009 - Azerbaijan Export ...

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104 DOING BUSINESS IN AZERBAIJAN gives relevant instructions to the Ministry of Labour and Social Protection of Population, the Ministry of Taxes and State Committee for Town-planning and Architecture. As for the law “On the Basics of City Construction” foreigners and foreign legal entities may engage in construction works in Azerbaijan only in conjunction with Azerbaijani nationals or legal entities. Azerbaijan is a booming construction market. There are several reasons behind the rapid development of the business in Azerbaijan in the last few years. The major one is the large capital investment in local infrastructure related to oil and gas projects. As a result this business area has evolved into a very competitive sector with a number of strong companies able to deliver the highest international standards in construction. The sector is growing year by year. Substantial increases in business and residential construction have been registered since the late 1990s in response to the growth of both commercial and household purchasing power. With the grown of demand for better living conditions the real estate prices in Azerbaijan are increasing on yearly basis. The construction industry has been undergoing a large further development. Since 2004 the trend changed in favour of residential development. Because the income of the population is growing with the state and industry development, the demand for new construction has been increasing. Therefore, it is highly likely that the proportion of residential construction will increase substantially as a result of increasing income of population. However, the construction growth is also observed in agricultural, transport and industrial sectors, which are the results of positive economical reforms and target programs carried out by the Azerbaijan government, for developing the non-oil sectors.
As market research in the field shows, there are currently significant opportunities to introduce state-of-the-art construction technology in Azerbaijan, as well as in architectural and engineering services, the production of construction materials and so on. mln. AZN constructions SECTORS REVIEW Average number of workers in the construction sector Years 2002 2003 2004 2005 2006 2007 2008 Ths people 178.0 180.0 190.6 194.4 222.8 225.6 226.1 %, in country’s total population 2.1 2.1 2.2 2.3 2.6 2.6 2.5 %, in total economically active population 4.7 4.8 5 5 5.6 5.6 5.6 105
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DOING BUSINESS IN AZERBAIJAN 2009 A
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“During recent five years, the ec
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OVERVIEW OF THE REGIONS 127 Abshero
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Heydar Aliyev, President of the Rep
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2009 DOING BUSINESS IN AZERBAIJAN 2
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Abundant resources Azerbaijan is ri
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The Government will continue the po
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places in the ranking, the biggest
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of documents produced and executed
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the JSC only to the extent of their
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esponsible for its obligations. Lik
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• Ownership and other property ri
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government agency entrusted to exer
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labour duties when no notice is req
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Overtime and work during days-off (
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Azerbaijani law recognizes several
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Page 55 and 56: Residents can export hard currency
Page 57 and 58: on cars, buses and trucks depending
Page 59 and 60: Accounting The new Accounting Law 2
Page 61 and 62: As mentioned above separate chart o
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Page 65 and 66: Rights to computer programs, databa
Page 67 and 68: elating to administrative offences;
Page 69 and 70: • an award contravenes legislatio
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Page 73 and 74: Interest and penalties Breach* Fine
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Page 81 and 82: of Azer baijan’s total reserves).
Page 83 and 84: 17, 2003. Following that the Presid
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Page 87 and 88: Minerals & mining Apart from major
Page 89 and 90: The Japanese company Tepsco and Fin
Page 91 and 92: Production and consumption of elect
Page 93 and 94: Agriculture Production of Azerbaija
Page 95 and 96: While in 1991 only 39 thousands hec
Page 97 and 98: Peak production of a number of prod
Page 99 and 100: Telecoms & IT Azerbaijani telecommu
Page 101 and 102: facilities of this satellite and ha
Page 103: Construction Legislation Pursuant t
Page 107 and 108: There are also opportunities for le
Page 109 and 110: agencies and investors in transport
Page 111 and 112: Business visits account for the maj
Page 113 and 114: During the year total bank assets i
Page 115 and 116: Significant works continued in 2008
Page 117 and 118: It should be noted that since 1993
Page 119 and 120: Disclosure Requirements The Civil C
Page 121 and 122: BSE turnover mln. AZN SECTORS REVIE
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Page 129 and 130: Aran economic region Aran is centra
Page 131 and 132: asphalt, mineral waters, spinning a
Page 133 and 134: The region is rich in brick, bank s
Page 135 and 136: chemical industry locally. There ar
Page 137 and 138: Daglig Shirvan Sheki-Zagatala Lanka
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2009 DOING BUSINESS IN AZERBAIJAN 1
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Tel.: (+99412) 4985094 Fax: (+99412
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Tel.: (+99412)4901323; Fax:(+99412)
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Tel: + 420 246032422; Fax: + 420 24
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Tel.: (73172) 24 15 81; Fax: (73172
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Tel.: +966(1)4192382; Fax: +966(1)4
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Tel.: (99412) 4901234; Fax: (99412)
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Consultant services Tel.: (99412) 4
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This publication prepared by: AZERB
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