Promoting free enterprise and a liberal economy in Azerbaijan (ANALYTICS)

Since gaining independence in 1991, Azerbaijan has made significant efforts to promote free enterprise and a liberal economy to encourage economic growth.

The government has implemented a number of policies and programs aimed at creating a favorable environment for business development and attracting foreign investment.

One of the key steps taken by the Azerbaijani government was the adoption of a new economic reform program in 1995. This program aimed to create a market-oriented economy and reduce the role of the state in economic activities. As part of this program, the government introduced a number of legislative and institutional reforms, including the establishment of a legal framework for private enterprise and the creation of a business registration system.

The government has also worked to create a more favorable tax environment for businesses. In 2000, a new tax code was introduced which simplified the tax system and reduced tax rates.

In addition to these measures, the government has taken steps to improve the country's infrastructure, including the construction of new roads, airports, and ports.

Furthermore, the Azerbaijani government has actively sought to attract foreign investment, particularly in the non-oil sector. The government has established investment promotion agencies and held investment conferences to showcase opportunities in various sectors of the economy, including agriculture, tourism, and information technology.

Moreover, Azerbaijan has taken various measures to promote a liberal economy and create a favorable environment for market-oriented reforms. These measures include reforms in areas such as taxation, trade, investment, and privatization.

In terms of trade, Azerbaijan has pursued a policy of liberalization and integration with the global economy. The country is a member of the World Trade Organization (WTO) and has signed various free trade agreements with other countries and regional organizations. The government has also implemented various measures to facilitate trade, such as the establishment of a single window for customs clearance and the simplification of import and export procedures.

Overall, Azerbaijan has made significant progress in promoting free enterprise and a liberal economy, creating a favorable environment for business development.

Analytic group of News.Az

The article focuses on promoting free enterprise and a liberal economy

The article was published with the support of the Media Development Agency of the Republic of Azerbaijan (MEDIA)


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