State support helped the companies affiliated with the Industry Ministry increase output, Belarus’ Prime Minister Andrei Kobyakov said. “Support provided to the companies of the Industry Ministry during this complicated period helped them increase the output by 0.7% over 2015 and 1.4% in January-July 2016. Backlog of inventories was reduced by almost Br2 trillion (non-redenominated)”,…
Representatives of Belarus’ business community will be authorized to evaluate the regulatory impact of regulatory acts on business environment, in accordance with a bill prepared by the Economy Ministry of Belarus. Posted on the ministry’s official web site, the document will be forwarded for approving to the head of state. The document says that the…
It is planned to decrease tax rates in order to encourage non-cash payments in Azerbaijan, the country’s Deputy Taxes Minister Ilkin Valiyev said. “Encouraging non-cash payments and limiting cash payments will lead to a rise in the number of POS-terminals and to the transparency in the payment of taxes”, said Valiyev. “We have already had…
Azerbaijan’s state oil company SOCAR will produce over 7,660 tons of oil annually through commissioning a new well at the offshore Oil Rocks field, SOCAR said in a message. Oil is extracted from a wellbore within the range of 1,205-1,187 meters. SOCAR is implementing a program to stabilize and increase oil output. The company produced…
American Chamber of Commerce in Azerbaijan (AmCham) welcomes Azerbaijani president’s order dated August 4, “On improvement of tax administration and approval of directions of reforms in taxation in 2016”. “We are glad to see that a number of recommendations to improve tax administration and simplify doing business in the country, proposed to the Azerbaijani government…
The Russian-Azerbaijani Business Council (RABC) plans to initiate up to five joint projects in 2016, said RABC Chairman Petr Fradkov. Despite the fact that the council was created in May, there was a preliminary plan of action for the remaining part of 2016, Fradkov noted. “Currently, the business council includes about 30 companies representing various…
Zhambyl region increased its industrial output in H1 2016. In January-June the industrial output in Zhambyl region rose by 3.2% which puts it on the fourth position in the country ranking. Foodstuffs processing sector in the region demonstrates a 41% growth, while processing industry shows a 10.7% rise. Positive dynamics is observed also in light…