Economy of Azerbaijan

📈 Number of taxpayers in Azerbaijan increases by 6.5% As of July 1, 2024, the number of registered taxpayers in Azerbaijan reached 1,556,028. Of these, 87.2% are individuals and 12.8% are legal entities and other organizations. Compared to the same period last year, the total number of taxpayers increased by 6.5%. The number of individual taxpayers rose by 6.4%, while the number of legal entities saw a 7.4% increase.

“Qarabağ Yem Fabriki” LLC has been granted resident status at the Aghdam Industrial Park, according to the Economic Zones Development Agency. The company, which will produce bird feed, has an investment cost of ₼12.4 million and plans to create 80 jobs. The manufactured products are intended to meet both domestic demand and export markets.

🗣️ Azerbaijan actively participating in creation of international transport corridors Azerbaijan is playing a significant role in the development of the "North-South" and "East-West" international transport corridors, stated Deputy Minister of Economy Sahib Alakbarov at the round table "Competitive Advantages of the Caucasus for the Development of International Cooperation with Partners in Eurasia," held within the framework of the Caucasus Investment Forum in Grozny, Chechnya. Alakbarov highlighted that Azerbaijan's railway connects the Azerbaijani-Russian border with the border between Azerbaijan and Iran. He noted that the increasing demands of shippers necessitate the modernization of logistics capabilities on certain sections of this route. This enhancement aims to provide a unique transport corridor from the North to the Indian Ocean and through the Middle Corridor to Türkiye and beyond to other regions of the world.