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98 DOING BUSINESS IN AZERBAIJAN Although this policy has been relatively successful, and food products are declining in prominence within Azerbaijan’s imports, there are still significant opportunities in a number of areas. Several small businesses are engaged in processing of dairy products and a few medium and large companies undertake packaging and mass sales. There are twelve large meat processing plants in Azerbaijan, mostly in private hands. Forty-three plants are active in the canning industry, and although they were previously state-owned, most of them are also now private. In 2007 total production of foodstuffs including beverages valued 1457.1 mln AZN. In order to provide markets for local agricultural producers there is still a need for substantial rehabilitation and renovation of storage and processing facilities. Significant opportunities exist in export-oriented agricultural production and processing. Azerbaijan’s pomegranate, feijoa and grape juices and its olives, hazelnuts and other produce are all competitive in international terms. Azerbaijani wine and brandy are traditional export products. The major markets include Russia, Ukraine and other countries of the region. In 2008 the volume of export was 319.4 mln. USD.
Telecoms & IT Azerbaijani telecommunications is the second largest recipient of foreign investment after the oil industry. The first wave of liberalization took place in the 1990’s when a number of foreign investors entered the market. The largest FDI stock is in the mobile telephony, followed by a number of enterprises with the foreign capital in land lines operating companies, internet providers and cable TV companies. Foreign investors are represented by Turkish, Israeli, UK, Russian, US etc. capital. The sector now is on the verge of further restructuring. One of the major steps taken is continuing privatization of the state shares in the telecoms and IT enterprises. The Azerbaijani telecom market is expanding rapidly. It is one of the leading sectors contributing to the economy growth. 125 thousand land lines were installed in 2004 only which is above 10% growth. Number of mobile telephone subscribers exceeded 6 million in 2008 and continues to grow rapidly. At the present there are 15 telephone sets per 100 inhabitants. The similar indicator is 33.0 for Baku city and 5.7 for rural areas. There are more than 3 million Internet users in Azerbaijan with a network of service providers throughout the country. Further development of the telecoms services is underpinned by the construction of Trans- Asia-Europe fibre-optic cable. It will give an impetus to introduction of new internet related services, international traffic etc. There are four mobile operators in the country: Bakcell, Azercell and Azerfon with GSM standards and Catel with CDMA standards. New GSM operator Azerfon entered Azerbaijani mobile market in March 2007. By the end of 2008 the number of subscribers of Azercell reached 3 700 000. Coverage area of the network is 80% of Azerbaijan’s territory. The capital investments have been made by Azercell since 1996 were more than 600 mln USD. In 2007 the SECTORS REVIEW 99
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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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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
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
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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
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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
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Page 129 and 130: Aran economic region Aran is centra
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Page 133 and 134: The region is rich in brick, bank s
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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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