Azerbaijan Eyes Providing Extensive ICT Incentives, Becoming Regional Hub - Rashad Nabiyev
Date
12/30/2022 3:11:37 PM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 30 . The President of
Azerbaijan has signed a number of documents related to the ICT
sector, providing for changes to relevant laws and codes. Thus,
from January 1, 2023, Azerbaijan will be included in the list of
countries where the largest benefits will be applied to the ICT
sector in the region, Minister of Digital Development and Transport
of Azerbaijan Rashad Nabiyev wrote on his facebook page, trend reports.
As a result of these changes, significant tax incentives will
apply to companies operating in the field of ICT, individuals
working in these companies, including foreign specialists. Along
with this, there are significant benefits associated with mandatory
social state insurance payments for both local employees and
attracted foreign specialists, and other benefits.
'The main purpose of the changes made is to stimulate the
development of the ICT sector in Azerbaijan, attract new players to
this field and turn our country into a regional ICT center.
Benefits are also important in terms of foreign ICT companies
opening branches or representative offices in Azerbaijan,
attracting foreign investment,' the publication says.
Nabiyev added that attracting foreign specialists and
international companies to this area, along with economic activity,
will also make an important contribution to the development of the
business environment and the start-up sphere in Azerbaijan, and the
country already has such experience in the energy sector.
'I believe that the amendments made to laws and codes will
revitalize the ICT sector and contribute to the further development
of the business sector,' the publication says.
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