Doing Business in Azerbaijan 2009 - Azerbaijan Export ...

More documents

Recommendations

Info

30 DOING BUSINESS IN AZERBAIJAN Business conduct framework and FDI regime The Republic of Azerbaijan is the leading FDI destination in the region. In the last decade the total FDI stock in Azer baijan exceeded 30 billion USD. Azerbaijan has achieved gradual improvement in the overall legal framework for the investment activities in the country for last several years with a number of practical regulations liberalizing conduct of business and reducing red tape. It carried out a revolutionary legal reform several years ago with adoption of new Tax code, Civil and Civil Procedure Codes, Land Code, Labour Code, Customs Code, Foreign Exchange Law as well as Law on International Arbitration made the system significantly more transparent and friendly for local and foreign businesses. The Government managed to open up economy for the international business and introduce investment-friendly laws and regulations. Generally, the Azerbaijani legislation establishes a very open national regime for FDI (which means that FDI are welcome in any sectors where the local investor is allowed to invest). Such a regime also applies to the privatization of the state owned property. There are no special permissions or specific registration requirements for foreign investment. The licensing was substantially simplified with foreign investors’ interests in mind. A foreign investor in Azerbaijan enjoys a non-discrimination regime. The major economic policies include an FDI element; for example, the Government lifted limitations for foreign participation in the banking sector. Privatization process is open for foreign investors as well. Any FDI restrictions are strictly limited to national security matters. The major factors that turned Azerbaijan into a leading FDI destination and provide sound justification for doing business here are:
Abundant resources Azerbaijan is rich in mineral and climatic resources. The Caspian Sea oil & gas reserves are one of the major deposits globally. Azerbaijan has also substantial explored deposits of precious metals (including gold and silver), ferrous and non-ferrous metals, various construction raw materials deposits etc. One of the major resources the country has is its natural diversity. Despite relatively small size, the Azerbaijani territory due to complex terrain and geography has a number of distinct climatic zones ranging from humid subtropical climate to semi-arctic. This creates unique opportunities in agriculture and tourism. Favourable location Azerbaijan is located on the very south-eastern border of the European continent and serves as the natural bridge between Europe and Central Asia as well as it is the most convenient route from the north-east of Europe to the Middle East. The country is the logistics hub for the Caspian region. Excellent infrastructure of Baku (including largest regional sea and air terminal) is the best choice for any business entering the markets of the Caspian Sea region. Competitive cost of production Azerbaijan has long lasting industrial and trade traditions. The industrial revolution has taken place here in the late XIX century due to expanding and advanced oil production and processing sector. Further industrial development led to growing Research and Development (R&D) base. A large R&D centre, Academy of Sciences with circa 7,000 research studies, exists in Azerbaijan in parallel with a number of universities and colleges. The country is rich in engineering skills yet the wages are still very competitive. BUSINESS CLIMATE 31
Page 3: DOING BUSINESS IN AZERBAIJAN 2009 A
Page 6: “During recent five years, the ec
Page 9: OVERVIEW OF THE REGIONS 127 Abshero
Page 12 and 13: 12 DOING BUSINESS IN AZERBAIJAN Coa
Page 14 and 15: 14 DOING BUSINESS IN AZERBAIJAN wit
Page 16 and 17: 16 DOING BUSINESS IN AZERBAIJAN Aze
Page 18 and 19: 18 DOING BUSINESS IN AZERBAIJAN Nob
Page 20 and 21: Heydar Aliyev, President of the Rep
Page 22 and 23: 22 DOING BUSINESS IN AZERBAIJAN “
Page 24 and 25: 24 DOING BUSINESS IN AZERBAIJAN For
Page 26 and 27: 26 DOING BUSINESS IN AZERBAIJAN
Page 29: 2009 DOING BUSINESS IN AZERBAIJAN 2
Page 33 and 34: The Government will continue the po
Page 35 and 36: places in the ranking, the biggest
Page 37 and 38: of documents produced and executed
Page 39 and 40: the JSC only to the extent of their
Page 41 and 42: esponsible for its obligations. Lik
Page 43 and 44: • Ownership and other property ri
Page 45 and 46: government agency entrusted to exer
Page 47 and 48: labour duties when no notice is req
Page 49 and 50: Overtime and work during days-off (
Page 51 and 52: Azerbaijani law recognizes several
Page 53 and 54: Currency regulation & repatriation
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
Page 63 and 64: utility models, trademarks, and geo
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
Page 71 and 72: economy such as transport, communic
Page 73 and 74: Interest and penalties Breach* Fine
Page 76 and 77: 76 DOING BUSINESS IN AZERBAIJAN
Page 79 and 80: 2009 DOING BUSINESS IN AZERBAIJAN 7
Page 81 and 82:
of Azer baijan’s total reserves).
Page 83 and 84:
17, 2003. Following that the Presid
Page 85 and 86:
whatsoever in respect of their oil
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 and 104:
Construction Legislation Pursuant t
Page 105 and 106:
As market research in the field sho
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
Page 124 and 125:
124 DOING BUSINESS IN AZERBAIJAN
Page 127 and 128:
2009 DOING BUSINESS IN AZERBAIJAN 1
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
Page 139:
139 Ilan Dag mountain. Nakhchivan r
Page 142 and 143:
142 DOING BUSINESS IN AZERBAIJAN Li
Page 144 and 145:
144 DOING BUSINESS IN AZERBAIJAN Cu
Page 146 and 147:
146 DOING BUSINESS IN AZERBAIJAN as
Page 148 and 149:
148 DOING BUSINESS IN AZERBAIJAN ob
Page 150 and 151:
Page 152 and 153:
Page 154 and 155:
154 DOING BUSINESS IN AZERBAIJAN sw
Page 156 and 157:
156 DOING BUSINESS IN AZERBAIJAN to
Page 158 and 159:
158 DOING BUSINESS IN AZERBAIJAN mu
Page 160 and 161:
160 DOING BUSINESS IN AZERBAIJAN do
Page 162 and 163:
162 DOING BUSINESS IN AZERBAIJAN po
Page 164 and 165:
164 DOING BUSINESS IN AZERBAIJAN El
Page 166 and 167:
Page 169 and 170:
2009 DOING BUSINESS IN AZERBAIJAN 1
Page 171 and 172:
Tel.: (+99412) 4985094 Fax: (+99412
Page 173 and 174:
Tel.: (+99412)4901323; Fax:(+99412)
Page 175 and 176:
Tel: + 420 246032422; Fax: + 420 24
Page 177 and 178:
Tel.: (73172) 24 15 81; Fax: (73172
Page 179 and 180:
Tel.: +966(1)4192382; Fax: +966(1)4
Page 181 and 182:
Tel.: (99412) 4901234; Fax: (99412)
Page 183 and 184:
Consultant services Tel.: (99412) 4
Page 185:
185 Face Pattern of the Momine Khat
Page 188 and 189:
188 DOING BUSINESS IN AZERBAIJAN An
Page 190 and 191:
Page 192 and 193:
Page 194 and 195:
Page 196 and 197:
Page 198 and 199:
Page 200 and 201:
Page 202 and 203:
Page 204 and 205:
Page 206 and 207:
Page 210:
This publication prepared by: AZERB
show all

Doing Business in Azerbaijan 2009 - Azerbaijan Export ...

Create successful ePaper yourself

Delete template?

Save as template?