Azerbaijan To Issue Licenses To Business Entities For Manufacturing Of Military Products (Exclusive)
Date
9/25/2024 2:23:15 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, September 25. Business
entities will be issued a license for the manufacturing of military
products, and the Ministry of Defense industry will issue it for
the design, production, and testing of military products, as well
as for their repair and maintenance, Advisor to Azerbaijan's
Defense Industry Minister Arif Babayev told Trend.
He noted that fees related to the licenses vary from 10,000 to
12,000 and up to 50,000 manat depending on the type of
activity.
“Work is underway to establish new rules, conditions, and
requirements for the issuance of licenses. To stimulate the
development of the defense industry, tax and customs privileges
will be applied to persons engaged in the design, production, sale,
repair, and maintenance of defense articles. They will be exempted
from customs duties and value-added tax based on supporting
documents issued by the Ministry of Defense Industry. Stimulating
interest in defense industry activities and attracting private
business entities means creating a healthy competitive environment.
The Ministry of Defense Industry will issue permission to import
and export military products to the private sector. To organize
this process more efficiently and to learn from international
experience, appropriate amendments are being made to the national
legislation. This in turn will give an impetus to the development
of the related industry,” he noted.
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