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Banking, Finance and Insurance
The Committee oversees the entire financial services industry, including banking and insurance industries. The committee concentrates on those issues that can off set American and Azerbaijan-US joint venture business in Azerbaijan. Finance committee works towards bringing greater understanding of the Azerbaijan Financial system. Better consideration of financial systems and a more robust financial infrastructure helps us to ensure both sustainable economic growth and social progress within the country. AmCham’s financial committee exists to raise and allocate finance. AmCham commonly undertake activities in order to bring organization’s together to provide a range of financial services for its members.BFI Committee seeks to support and promote the interests of AmCham’s Banking, Finance and Insurance members. It does this by facilitating discussions on issues affecting the sector, inviting guest speakers and by seeking to act as an advocacy body to defend and promote the interests of the sector as a whole with respect to Government and regulatory bodies.Powered by Froala Editor
Procurement
The Working Group on Procurement was established at the end of 2018. In 2019, the WG held a number of memorable events with participation of foreign procurement experts and local top managers. During 2019, WG formed a group of professionals with a passion for procurement and a desire to positively change the procurement environment in the country. The result of this work was a position paper with a set of proposals aimed to improve public sector procurement. In 2020, the WG was transferred to the status of a Committee and the committee's mission is to help the business community and the public sector to improve procurement processes, to educate and promote best practices and transparency in procurement processes and share successful stories within the Amcham community.Powered by Froala Editor
FMCG
The mission of FMCG Committee is to contribute to the improvement of legislation and legal practice in the areas of commercial and company law, as well as to promote standards of best practice in marketing goods and services. The issues of product safety, consumer protection, advertising etc. are of great public concern, abundant however in grey areas not yet being subject to legal scrutiny.The FMCG Committee is constantly working on the questions below to be addressed:• What are the legal requirements for the product to be marketed?• How to market the product lawfully?• How to abide by law in contacting consumers and competitors when marketing the product?Powered by Froala Editor
Some Facts about AmCham Azerbaijan
The American Chamber of Commerce in Azerbaijan is a leading private, non-profit business association supporting and promoting the interests of foreign and local businesses in Azerbaijan. Established in 1996, AmCham is composed of over 260 Regular and Associate Member Companies active in every sector of the Azerbaijani economy. AmCham Azerbaijan represents nearly 80% of all foreign investment, as well as a significant portion of local investment, in Azerbaijan. Through its 9 industry sector committees, Member Companies are able to share information, raise issues of common concern and propose possible solutions. Being one of the largest and the most influential organizations in the country AmCham provides the best networking opportunities. Other membership benefits include access to the data on the latest tendencies in the market (through such information resources as AmCham White Papers, AmCham Annual Reports, IMPACT Azerbaijan Quarterly Magazines, Annual National Employee Salary Surveys, Quarterly Inflation Surveys); Member-to-Member Discount Program offers; U.S. Business Visa Facilitation Program benefits, etc.
Higher Personality Reviews
Every feedback on the Chamber is a boost to our improvement
Speech of Heydar Aliyev, the President of the Republic of Azerbaijan at the opening ceremony of the American Chamber of Commerce in Azerbaijan – “Hyatt Regency Nakhchivan” Ho ...
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National Leader of the Republic of Azerbaijan
As I know, part of the recently implemented reforms were developed on the basis of AmCham ideas, I would like to thank you for that.
The President of the Republic of Azerbaijan
“There are the many important contributions this Chamber has made, including through its White Papers, to improving the business climate in Azerbaijan, to fostering dialogue betw ...
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Ambassador of the United States of America to the Republic of Azerbaijan (2015-2018)
“AmCham plays an immense role in improving the country’s business environment."
Deputy Assistant Secretary of State for European and Eurasian Affairs
Remarks for the AmCham by Ambassador Lee Litzenberger
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Ambassador of the United States of America to the Republic of Azerbaijan
National Leader of the Republic of Azerbaijan
Ladies and Gentlemen!
Dear guests!
I cordially greet you all and say you “Welcome to Azerbaijan.” The organized start of work of American Chamber of Commerce is a distinguished event in the history of US- Azerbaijan relationships.
After gaining of independence, the Republic of Azerbaijan tries to establish economic cooperation with all countries of the world and the United State of America occupies a special place amongst them. US-Azerbaijan cooperation was successfully developing in the course of the last years. I highly appreciate it and we will do our best for the further development of these relationships. This cooperation perfectly fits the strategic policy of the independent Republic of Azerbaijan in the economic sphere.
After gaining independence Azerbaijan has chosen the way of the democratic, legal and civilized state building, carrying out of reforms in the economy of the republic and principles of relating its economy to the world economy. We think that for the development of social-economic situation of the Republic we must cooperate closely with foreign countries and all companies of the world and have joint business in the economic sphere between Azerbaijan and other countries, companies. These are main works carried out in the sphere of development of Azerbaijani economy on the basis of market economy and attraction of foreign investment to our Republic on the permanent basis.
As you know, Azerbaijan has abundant natural resources. Our country has a big industrial, agricultural potential. From the viewpoint of its geographical location, our Republic has big possibilities for the economic cooperation with World Community. The world experience has proved repeatedly that no country, even the biggest one is able to develop its economy within its boundaries up to the required level. Integration of world economy, the mutual cooperation in the economic field of the countries each with other is beneficial for every country and in general it is the only way of development of the world economy.
After gaining state independence we took for the main principle this experience and made efforts for constant attraction of foreign investment to Azerbaijan and joining of the economy of our republic to the world economy, we will undertake these efforts in the future as well. The results achieved in the field of joint business between Azerbaijan and the US companies within the last years are vivid example of that.
It is well known that one of the factors and the main one of attraction of the US and other companies to Azerbaijan is oil and gas fields of our country. The existence of abundant oil and gas fields at the territory of the Republic of Azerbaijan and Azerbaijani sector of the Caspian Sea is well known all over the world. Azerbaijan is an ancient and great oil country. The achievements of our republic in this field are known world-wide. Now we are living a new stage, a new period of the oil and gas industry of Azerbaijan. This stage is related to joint exploration of these oil and gas fields of Azerbaijan with great oil companies of the world.
As you know we signed the first large contract two years ago – in September, 1994. This contract is known in the world history as the “Contract of Century.” This contract was signed between State Oil Company of Azerbaijan Republic and the Consortium of foreign oil companies. The US companies take more numerous in this Consortium. It is with a great sense of pleasure that I want to say that the results of these contracts in the course of the passed two years were positive and the programs envisaged in contract are being implemented consecutively. If some people had doubts and others wanted to see the positive results of this contract when we were going to sign it, now these results turned into reality. And those, who had doubts, should give them up.
As you know, two other large oil contracts were signed afterwards. The US companies participated at the contract signed a year ago. Tomorrow a new oil contract is to be signed and the main parties of the contract are still the US oil companies.
These contracts and their practical implementation provided coming of both the US and many other companies to Azerbaijan. I am pleased to say that offices of not only the US oil companies, but those dealing with other spheres are opened in Azerbaijan. All this is perfect results of the US-Azerbaijan economic cooperation and the big potential achieved by us.
The importance of this potential is that all these works will give more perfect results in the future. Therefore, I think that opening of the US Chamber of Commerce in Azerbaijan and inauguration of its office is very remarkable today and will serve for the new stage in the future. We did our best up to present to encourage not only the US companies but every individual, representing the United States who comes to Azerbaijan and want to make business here. However, now, after establishment of the US Chamber of Commerce and starting of its organized activity, we will do our work with more success.
I know that the US Chamber of Commerce is established in Azerbaijan to regulate, support, guide and make prognostication for all the US companies and businessmen in Azerbaijan. I welcome this initiative and highly appreciate it. I think that the Chamber of Commerce will work here freely and successfully.
You may be confident that the support on the level of Azerbaijani state, government and all state bodies will be rendered to the Chamber of Commerce of the United States in order to ensure its successful activity. This is of the same importance both for you and for us. We are very interested in it. Because, as I have mentioned earlier, we want more US companies to come to Azerbaijan.
We are carrying out economic reforms and privatization process on the basis of principles of market economy, of course, we are going on this way and we will go in the future. Both you and all Azerbaijani society see the positive results of the implemented economic reforms and privatization process in the last period. The offices of foreign companies, their joint-ventures, private enterprises, large and beautiful shops has changed the image of Azerbaijan, especially that of Baku. All this pleases us.
Today I want to state that we are consecutively adhering the way of economic reforms and we will adhere this way in the future too. We are promptly implementing the privatization process and take serious measures in this sphere. For example, I have liquidated the State Agency of Grain Products two days ago and submitted all enterprises and bodies of this Agency to the State Property Committee for privatization.
This is a measure taken not for privatization of separate enterprises, but an entire state structure. Perhaps, this is an ordinary case for our guests that came from the United States of America. However, it is not at all an ordinary case for us. Because, you must know that adoption of a decision for liquidation and privatization of large state bodies that have been under aegis of the government for a long time requires courage and we implement it with courage. We need foreign investments and cooperation with the US companies for implementation of these measures.
The US companies should try to participate at the privatization process underway in Azerbaijan and take their own place in the implementation of market economy in the economic life of our country. I invite you to this.
I declare for you and all our partners from the United States of America that the state ad president of the Republic of Azerbaijan will steadfastly develop the economy of our country on the basis of market economy, implementation of economic reforms and privatization. Therefore, I always say to foreign companies, including American companies to not be late. The sooner you come to Azerbaijan the better place you will have here.
You must know that a favorable social and political situation is established in Azerbaijan for establishing a successful business here. We have adopted some very favorable laws for attraction of foreign investments to Azerbaijan. We are going to adopt such laws in the future too. If there is an annoying factor in any sphere for doing this work we will eliminate it. If any part of any law inhibit the successful implementation of our work, we will amend these laws and adopt new ones. You can be sure in it.
In order to do all this work we are closely cooperating with International Monetary Fund, World Bank and European Union. I would like to say that I am very pleased with this cooperation and I think that this cooperation is a perfect mean for implementation of economic reforms in Azerbaijan and strengthening of the economy of our country.
I would like to say once again that I am very pleased with our today`s meeting. I wish successes to all of you and all companies and businessmen of the United States of America. I hope that on the basis of results achieved up to now, the US-Azerbaijan economic cooperation will develop more quickly.
In previous meetings with the President of the United States of America, Mr. Bill Clinton, as well as meetings and negotiation held with vice-president Albert Gore held a few days ago in Lisbon, we discussed development of the US-Azerbaijan relationships in all spheres and we were of the same opinion. I openly stated the position of Azerbaijan in this sphere.
I highly appreciate the friendship and cooperation established with state bodies of the United State of America, as well as between the US and Azerbaijani Presidents, and I assure you that Azerbaijan will always remain faithful to these relationships of friendship and cooperation.
I cordially congratulate you once again on the occasion of opening ceremony of American Chamber of Commerce in Azerbaijan. I wish you all successes, happiness and health.
Thank you.
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Ambassador of the United States of America to the Republic of Azerbaijan (2015-2018)
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Ambassador of the United States of America to the Republic of Azerbaijan
AmCham has long been a key partner of the U.S. Embassy, serving as the voice of the business community and working to advance our shared vision of a prosperous, stable, and globally-integrated Azerbaijan. It’s an honor for me to speak to you all today.
As you probably know, I arrived in Baku just three weeks ago. Although I’m still quite new to the country, I can’t help but feel optimistic about the opportunities ahead. On my second day at work, I presented my credentials to President Aliyev and we had a warm and open discussion on the strength of U.S-Azerbaijan relations and the ways in which we can advance them even further.
Since then, I’ve met with many government officials, civil society members, and business leaders. I’ve also gotten to know the dedicated team of Americans and Azerbaijanis working at the U.S. Embassy.
All of this has shown me that our bilateral relationship is based on a solid foundation and benefits from the dedication of people in both our countries who are committed to strengthening it. I would like to take a brief moment to recognize one of those people, whom you all certainly know well.
Deputy Chief of Mission William Gill has done an excellent job as Chargé d’Affaires at the U.S. Embassy this past year, as well as a member of the AmCham Board since 2016. Thank you very much, Will, for your tireless dedication to improving the ties between the United States and to Azerbaijan.
Will’s work is just one example of the United States’ decades-long engagement in Azerbaijan. In addition, I am also excited that Will encouraged and supported USAID’s Mission Director Jay Singh to engage with AmCham as a key partner in his forward-leaning private sector strategy. Let me recognize Jay for his role in deepening this engagement.
The United States has been here since the beginning; we have stood shoulder to shoulder with the Azerbaijani people for 27 years to help you maintain your independence and sovereignty, expand and diversify your economy, and develop democratically.
Since 1992, the U.S. government has provided over $1.3 billion in assistance through programs supporting humanitarian relief, economic development, the rule of law, and much more.
Over 6,000 Azerbaijanis have traveled to the United States on U.S.-government sponsored exchange programs. These alumni now occupy leading positions in your government, civil society, the private sector, and, of course, AmCham.
These programs are born from our belief that a stable and prosperous Azerbaijan is essential for advancing our common goals of stability and prosperity throughout the region and across the globe. We believe your success and our success are mutually reinforcing.
And I believe that everyone in this room has an important role to play in achieving that success. A dynamic and engaged business community in a vibrant and open private sector is the only way to compete effectively in the global economy.
Although much work remains to be done, there is a great deal to be proud of.
One area of unquestioned economic success for Azerbaijan has been in the energy sector. Caspian energy resources have not only enriched Azerbaijan, but also helped it play an important role in Europe.
The Southern Gas Corridor is not only an important project for Azerbaijan, it is also a key component to guaranteeing the political and energy security of Europe. Just as the United States played a critical role in supporting the Baku-Tbilisi-Ceyhan pipeline in the late 1990s, we will continue to support the Azerbaijani government and its private sector partners to ensure the completion of the Southern Gas Corridor.
However, Azerbaijan’s leadership has recognized that even though oil and gas are important, the Azerbaijani economy needs to diversify away from its dependence on hydrocarbons.
We support the government’s stated goal to have multiple, sustainable sources of revenue; new opportunities for investment; and a creative, innovative cadre of entrepreneurs working in an open economy to boost economic growth and prosperity. The U.S. can play an important role in this effort.
In support of these economic diversification efforts, the United States Agency for International Development – USAID – has invested resources and technical expertise in Azerbaijan’s farmers to accelerate agricultural sector growth. USAID has also invested in youth and women to promote small business development and increase economic participation.
Next week, USAID is also sponsoring the first ever Illinois-Azerbaijan Agricultural Forum in Chicago, facilitating linkages and investment opportunities between American and Azerbaijani companies to further advance the sector.
This forum will be attended by the Minister of Agriculture and senior members of the Azerbaijani government. AmCham’s support of the Forum has been instrumental. We hope that this collaboration between USAID and AmCham will result in future events such as this and further the economic relationship between our countries, and the partnership between USAID and AmCham.
We are encouraged by the significant steps the government has taken to reform the State Customs Committee, the tax system, and the delivery of government services through the ASAN service centers. These reforms send an important signal that Azerbaijan is interested in creating a welcoming and attractive investment climate.
AmCham has played an important part in this process. Your biennial White Paper has proven to be an excellent way for the business community to have an open dialogue with the government. That conversation has been fruitful, and I believe it will continue to be so in the future. And you can count on the continued support of the U.S. Embassy for AmCham.
These positive steps, however, are just the first in a journey that must continue.
The global economy is large, and it is very competitive. Every country in the world is fighting to attract foreign investment and to develop industries that create jobs and exports.
When making investment decisions, U.S. companies compare Azerbaijan with other potential destinations. They look at the size, health, and transparency of the domestic market. They look at the quality of the labor pool. They look at the regulatory and tax regimes. And they look at the predictability of the legal environment.
Ultimately, U.S. companies want to invest in markets in which they can compete on a level playing field and know that their investments will be protected by the rule of law.
One case in point is the protection of intellectual property rights. When it comes to attracting foreign investment, countries that have strong intellectual property right protections have an immediate advantage over those which do not.
At a fundamental level, foreign investors want to know that they will receive a fair price for the goods and services they sell and that their innovations are protected.
Another issue is Azerbaijan’s lack of integration into the global trading system. Opening your market brings with it benefits that far outweigh the challenges of integrating with the global economy.
We support a clear and sustained effort by Azerbaijan to accede to the World Trade Organization as one of the best ways to realize the goals of economic diversification and attracting foreign investment.
U.S. companies also want to work in truly free and transparent markets. Economies that are dominated by a handful of individuals or entities will struggle to attract foreign investment and produce the entrepreneurs that make any economy truly dynamic.
Most importantly, U.S. companies want to work in environments that respect and celebrate the rule of law. Azerbaijan has made remarkable progress in adopting reforms in recent years, as demonstrated by its improvement in the World Bank’s “Doing Business” Report.
Ensuring that these reforms are properly applied requires predictability and transparency in the way an independent judiciary reaches decisions and government agencies implement regulations.
I see great potential for deepening economic ties between Azerbaijan and the United States, and indeed the rest of the world. From my initial discussions with Azerbaijani officials and business leaders, I know I am not alone in this optimism.
The U.S. Embassy will remain a committed partner in strengthening those ties through our assistance, our advocacy, and our people-to-people exchanges. Of course, while we will continue to do our part, much of the work falls on those in this room.
A healthy private sector is the foundation of a healthy economy. As the premier business organization in Azerbaijan, AmCham is in a better position than anyone else to innovate, promote job creation, build business ties, and advocate for additional necessary reforms to strengthen Azerbaijan’s competitiveness to attract new investments.
You understand the power of people, of creativity, of adaptation, and growth. You understand the power of private enterprise when given the freedom to compete in a fair, transparent, and predictable environment.
I look forward to working with the AmCham Board of Directors, the Executive Director and her capable staff, and the entire AmCham membership to deepen ties between our two countries and promote prosperity in Azerbaijan.
Thank you for having me today and thank you for welcoming me so warmly to your country.
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MEMBERSHIP TYPES
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Happy Novruz!
17 March 2023
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A special gift of 8 000 AZN for Novruz!
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Call for Azerbaijani enterprises to become RECP Demonstration Companies
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13 February 2023
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FOUR SEASONS HOTEL BAKU FEBRUARY HAPPENINGS
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Amendments to the Tax Code
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26 January 2023
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“Nar” continues vocational training for special people in 2023
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Four Seasons Hotel Baku February Happenings
23 January 2023
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Holcim Azerbaijan signed the UN Women' Empowerment Principles
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Miau miau miauuu!
29 December 2022
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ISO 27001:2022 Information Security Management System Lead Auditor Training
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Veyseloglu Group of Companies Announces İts Monthly Retail Price İndex
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The Annual Innovation Summit will be held on December 13, 2022
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AIEN Event: "Energy Transition in Azerbaijan and Beyond"
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Sustainability Report - Azerbaijan
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Donation
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"Winter Miracle" project
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FOUR SEASONS HOTEL BAKU NOVEMBER HAPPENINGS
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FOUR SEASONS HOTEL BAKU - OCTOBER & HALLOWEEN HOTEL HAPPENINGS
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20 October 2022
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18 October 2022
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Veyseloglu Group of Companies Announces İts Monthly Retail Price İndex
13 October 2022
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8th Baku International Book Fair will be held
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Latest updates on determination and application of Transfer Prices
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Cubics Solutions as an efficient time management tool in business
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Japan Investment Forum
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Veyseloglu Group of Companies Announces its Monthly Retail Price İndex
12 September 2022
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4th Azerbaijan International Defence Exhibition “ADEX”
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Veysəloğlu Şirkətlər Qrupu məşhur alman brendini ölkəmizə gətirdi
26 July 2022
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“EKVITA ACADEMY-DƏN VERGİ QANUNVERİCİLİYİ ÜZRƏ “PEŞƏKAR MÜHASİB SERTİFİKATI” İMTAHANINA HAZIRLIQ TƏLİMİ!
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Cubics – your own ERP System
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First "IronWind 70.3 by Triterra" triathlon race in Azerbaijan.
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How the legal strategy can help to successfully implement the business strategy?
29 June 2022
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Veyseloglu teams with Rossmann to bring German quality to Azerbaijan!
24 June 2022
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Veyseloglu Group of Companies Speaks at SAP NOW Baku Business Forum
23 June 2022
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Purposeful Growth: Why Businesses Should Rethink Their Marketing
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“Veysəloğlu ilə İlk Addım”la 5 aylıq ödənişli təcrübə və iş imkanı Proqrama sonuncu kurs tələbələri və yeni məzunlar qoşula bilərlər.
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Veyseloglu Group of Companies Announces İts Monthly Retail Price İndex
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Veyseloglu Group of Companies Honoured in Deloitte’s Prestigious Business Contest
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We invite you to visit Baku Energy Week on June 1-3!
27 May 2022
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On occasion of the 2022 Caspian Oil and Gas Conference, Dentons Baku office is pleased to invite you to the special breakfast seminar to be held on Tuesday, 31 May 2022 at Hyatt Meeting and Conference Centre.
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Going Digital: a trend or an imperative
24 May 2022
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We invite you to visit Caspian Agro and InterFood Azerbaijan exhibitions on May 18-20!
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Veyseloglu Group of Companies Announces İts Monthly Retail Price İndex
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Marketlərdə alıcılara ət və ət məhsulları necə təqdim olunur? Veysəloğlu Şirkətlər Qrupu bu mövzuda da çox seçicidir.
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PwC Azerbaijan Times, issue 04, May 2022
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Baku Water Innovation Forum
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Cold Storage: what is it for and who will benefit
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Open MBA Seminar 6 May in Baku: "New Business and Societal challenges in the era of Industry 4.0"
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AMENDMENTS TO THE TAX CODE OF THE REPUBLIC OF AZERBAIJAN
19 April 2022
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25 million manat has been invested in the establishment of a new and modern logistics center in Azerbaijan
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Legal updates, 11 April 2022
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From Evolution to Revolution: The Future of Cyber Operations
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Veyseloglu Group of Companies Announces İts Monthly Retail Price İndex
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First “Vertical run race” in Azerbaijan, Baku
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Business Outlook in Azerbaijan, 6th edition
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Veyseloglu Group of Companies Announces İts Monthly Retail Price İndex
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Veyseloglu Supports Young People with University Aspirations
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We invite you to the 4th Congress for People with Special Needs
1 March 2022
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Prosol has started a partnership with the ADA university
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Suspension of inspections in the field of entrepreneurship has been extended
17 February 2022
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PwC Azerbaijan Times, issue 03, February 2022
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Veyseloglu Group of Companies Announces İts Monthly Retail Price İndex
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Legal updates
11 February 2022
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Amendments to the Tax Code: Expected Outcomes
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ASSA ABLOY Group entrusted “Unico” CJSC with regional representation of its products
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NEQSOL Holding to host prestigious Capacity Caucasus & Central Asia 2022 event
2 February 2022
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Veyseloglu Group of Companies presented its retail index for 2021
21 January 2022
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Deloitte Tax and Legal News 17 January 2022
17 January 2022
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Baku International Sea Trade Port in the frames of “Port Community Care” project invites you to the “Corporate Kitchen” Team Building series
14 January 2022
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Changes in Tax Code
14 January 2022
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Veyseloglu Group of Companies presents the retail index reflecting price changes for essential commodities
12 January 2022
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Legal updates
11 January 2022
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13 University Graduates were Employed by Veyseloglu Group of Companies
10 January 2022
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PASHA Holding and its strategic assets will plant 11,000 trees in Zangilan.
28 December 2021
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Veyseloglu Group of Companies has donated 30,000 manat to the YASHAT Foundation
23 December 2021
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ÇİMTAŞ STEEL IS TO DELIVER THE WORLD'S TALLEST FLAGPOLE
16 December 2021
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AMENDMENTS TO THE TAX CODE OF THE REPUBLIC OF AZERBAIJAN
14 December 2021
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Veyseloglu Presents Its Monthly Retail Index for November
9 December 2021
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KPMG in Azerbaijan welcomes new Partner, Head of Advisory
19 November 2021
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THE RESULTS OF THE "FROM IDEA TO SUCCESSFUL BUSINESS" STARTUP COMPETITION HAVE BEEN ANNOUNCED!
16 November 2021
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Veyseloglu Group of Companies announced the Retail Index for October
15 November 2021
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EKVITA is looking for Legal Manager
19 October 2021
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NEQSOL Holding announces partnership between NEQSOL Academy and LinkedIn Learning
7 October 2021
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Veyseloglu Group of Companies announced the Retail Index for September
5 October 2021
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A Cup of Knowledge from Deloitte Academy
30 September 2021
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PwC Azerbaijan Times: Tax Update, Issue 03
29 September 2021
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PwC Azerbaijan's Special Issue of Legislation update
24 September 2021
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Legal Updates | August
21 September 2021
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Join the 1st Azerbaijan International Reconstruction and Development of Karabakh Exhibition, “Rebuild Karabakh 2021” on October 20-22!
16 September 2021
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Tekfen Construction’s Azerbaijan Country Manager appointed as the Azerbaijan Representative of DTIK (World Turkish Business Council)
9 September 2021
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Introducing the leadership team of our market-leading Dentons Baku office.
27 August 2021
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EMPLOYMENT AGREEMENT vs CIVIL LAW CONTRACT
1 July 2021
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Foreign nationals traveling to Azerbaijan required to have a COVID-19 passport
10 June 2021
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New Amendments Introduced to the Labor Code
2 June 2021
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“Unico” LLC construction company has launched “Smart Young Engineer”- a month-long paid Summer Internship Program for 2021.
27 May 2021
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EKVITA Newsletter
16 May 2021
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EKVITA Legal Updates | March
30 April 2021
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PwC Azerbaijan Times-issue-01-2021
27 April 2021
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Compliance management systems — Requirements with guidance for use
27 April 2021
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The 2021 edition of Dentons Guide to Investing in renewable energy projects in Europe
2 April 2021
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Draft changes to the Tax Code
2 March 2021
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Coca-Cola Wins U.S. Secretary of State’s Award for Corporate Excellence for Women’s Economic Empowerment Efforts in Azerbaijan
3 February 2021
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TURKISH AIRLINES STUDENT PRIVILIGES
28 January 2021
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EY Business Brief
5 June 2020
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Deloitte News Update
15 May 2020
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Deloitte Tax News
15 May 2020
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BHM Legal Update
15 May 2020
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PwC Azerbaijan’s COVID-19 Alert Special Edition Issue № 13
27 April 2020
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Key support measures available to business
23 April 2020
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EY Business Brief
21 April 2020
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EY Business Brief
6 April 2020
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MBA in Finance
5 February 2020
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BHM Legal Updates
17 January 2020
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PwC Azerbaijan Times Issue #1
16 January 2020
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Company (LLC) registration in Azerbaijan (Innovation in registration of an LLC)
29 December 2019
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PwC Azerbaijan Times Issue #12
12 November 2019
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Upcoming AmCham Events
COMMITTEE MEETING
AmCham Human Resources and Labor Committee's March Meeting
LUNCHEON
AmCham Members' April Luncheon
COMMITTEE MEETING
RESCHEDULED: AmCham Tax & Customs Committee’s March meeting
Remaining time to start of AmCham Human Resources and Labor Committee's March Meeting
COMMITTEE MEETING
Important highlights from AmCham Events
AmCham Members’ March Luncheon with the Head of State Tax Service Mr. Orkhan Nazarli
On March 14, 2023, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) organized its Members’ March Luncheon with honorable guest speaker Mr. Orkhan Nazarli, Head of the State Tax Service under the Ministry of Economy of the Republic of Azerbaijan.The Luncheon was organized with the generous sponsorship of PASHA Property Management LLC. Opening the event, Executive Director of AmCham Azerbaijan, Ms. Gulnara Aslanbayli welcomed the participants. Ms. Aslanbayli briefly touched upon the projects implemented within the strategic goals of the Chamber, as well as talked on the upcoming plans and events. Ms. Nargiz Nasrullayeva-Muduroglu, President of AmCham Azerbaijan, warmly welcomed the distinguished guest speaker at the Luncheon and thanked him for his role in the continuous and productive cooperation between the Chamber and the State Tax Service. She highlighted AmCham Azerbaijan's continued efforts to support and advance the interests of both foreign and local businesses in Azerbaijan. Ms. Nasrullayeva-Muduroglu also emphasised the organization's long-standing commitment to this goal and the importance of its productive dialogue and cooperation with the State Tax Service towards achieving it.Head of State Tax Service, Mr. Orkhan Nazarli thanked the participants of the Luncheon and noted that the relations between the STS and AmCham Azerbaijan uniting hundreds of foreign and local businesses, are based on the principles of effective partnership. It was noted that the STS attaches great importance to improving tax policy and tax administration, providing new services to taxpayers, holding various discussions with public organizations of entrepreneurs to further improve the business environment. Mr. Nazarli noted that such meetings play an exceptional role in developing partnerships between tax authorities and business structures and further increasing the level of taxpayers' compliance with tax legislation. Mr. Nazarli also emphasized that the STS is interested in building partnerships with businesses in the process of improving tax legislation in order to create a favorable investment climate that will ensure sustainable economic growth in the country. He also informed the participants about the main directions of tax policy, trends in the field of tax legislation and administration in the upcoming periods.The presentation was followed by an interactive Q&A session, where suggestions and opinions of business representatives were considered, and all questions were addressed by Mr. Orkhan Nazarli.The event continued with the presentations of the member companies. First presentation was delivered by the sponsor of the event, PASHA Property Management. Chief Commercial Officer of PASHA Property Management, Mr. Elchin Gadimov provided comprehensive information on the main goals and values, as well as current activities and impending projects of the company. Thereafter, member presentations on portfolio and activity direction of the company were delivered by European Azerbaijan School. Afterwards, AmCham Tax & Customs committee chairperson Ms. Narmin Aslanova gave a brief information on the upcoming plans and activities of the committee. She also highlighted that the Chamber attaches significant value to the collaboration with the STS and further strengthening of these ties.Over 140 people participated in the luncheon including high-ranking government officials, representatives of diplomatic corps, senior executives from business community and member companies.
AmCham Procurement Committee’s March Meeting
On March 7, 2023, AmCham Procurement Committee hosted its monthly meeting. The meeting was dedicated to the topic “Modern approaches to public procurement”. The guest speakers of the meeting were representatives of Antimonopoly and Consumer Market Control State Service under the Ministry of Economy: Mr. Ahmad Hasanov, Head of the Public Procurement Department and Mr. Elshan Hasanov, Deputy Head of the Public Procurement Department. Chairman of AmCham Procurement Committee, Mr. Tural Vazirov gave brief foreword of the meeting and announced the agenda.Firstly, Mr. Ahmad Hasanov expressed his gratitude to AmCham Azerbaijan and participants of the meeting. Mr. Hasanov delivered a comprehensive presentation on the main changes and innovations in the public procurement. During the presentation, he shared with the audience the statistical information on competitive state purchases happened in 2022.In the second part of the meeting, participants were engaged in a fruitful discussion on the above-mentioned issues, as well as shared common concerns. At the end of the meeting, participants expressed their gratitude to the speaker.
AmCham Azerbaijan organized 4th Conference on “Ethics and Compliance in Azerbaijan”
On February 28, 2023, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) organized 4th AmCham Conference on “Ethics and Compliance in Azerbaijan”. The event was held with the support of the Platinum sponsors – BP and NEQSOL Holding. Mr. Zaur Allahverdizade, Vice-President of AmCham Azerbaijan, and Ms. Gulnara Aslanbayli, Executive Director of AmCham Azerbaijan, delivered opening speeches and welcomed the participants. The importance of such conferences in promoting compliance among businesses in Azerbaijan with the pertinent laws, regulations, and ethical standards, while also fostering advancing the discourse on ethics and compliance in the region was highlighted. Thereafter, the floor was passed to Mr. Ramin Valizada, Executive Secretary of the Commission on Combating Corruption of the Republic of Azerbaijan.Mr. Ramin Valizada welcomed the participants and acknowledged the Chamber's ongoing efforts to enhance the business environment in Azerbaijan. Mr. Valizada talked on the the strategies, programs, and reforms that have been implemented to combat corruption in the country. He also emphasized the importance of the Anti-Corruption Commission's deliberate and focused efforts in this area and highlighted the key role of the State Program on Combating Corruption in achieving positive outcomes.The Conference highlighted two panel discussions. The topic of the first panel was “Enforcement of anticorruption laws: international and local practices and perspectives”. Moderator of the first panel was Deputy Chairperson of AmCham Legal and Compliance Committee Mr. Toghrul Ahmadov, Chief Legal Officer of NEQSOL Holding. The first panel featured the speeches by Mr. Isfandiyar Hajiyev, Anti-Corruption Directorate with the Prosecutor General of the Republic of Azerbaijan, Ms. Ann Sultan, Miller & Chevalier Chartered, Mr. Seyfalpasha Aliyev, Judicial-Legal Council of Azerbaijan, and Ms. Rachel Cropper-Mawer, Partner at Clyde & Co. LLP. During the first panel, speakers discussed legal and institutional frameworks in Azerbaijan, global anti-corruption developments and enforcement trends, the role of the judiciary in fighting corruption, as well as insights into best practices for preventing and mitigating corruption risks.The second panel was dedicated to the “International Sanctions: challenges and perspectives for businesses”. Moderator of the panel was Chairperson of AmCham Legal and Compliance Committee Mr. Kamil Valiyev, Partner at Dentons. Speakers of the second panel were Ms. Indira Dashdamirova, ITC Leader of CIS region at Baker Hughes, Mr. Vagif Ahmadov, AGT Region E&C Manager of BP, and Mr. Nurlan Babayev, Head of Supervision department at the Financial Monitoring Service. During the panel discussion, the speakers touched upon the challenges and implications of international sanctions for businesses operating in Azerbaijan. They provided insights into the best practices for navigating and complying with these sanctions, as well as the potential risks and consequences of non-compliance. The role of governmental agencies and organizations in providing support and guidance to businesses in meeting their obligations related to international sanctions was also highlighted. The panel provided valuable information and guidance to help businesses effectively manage the challenges posed by international sanctions.The panel discussions were followed by interactive Q&A session, as well as exchange of views and best practices.More than 100 people participated in the conference, including high-ranking government officials, senior executives from business community, member companies and representatives of diplomatic corps.Click for the highlights from the Conference Click for all the media from the Conference
AmCham Members’ February Luncheon with the Chairman Mr. Shahin Baghirov
On February 15, 2023, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) hosted its Members’ February Luncheon with honorable guest speaker Mr. Shahin Baghirov, Chairman of the State Customs Committee of the Republic of Azerbaijan. The event started with a minute of silence to commemorate the victims of the massive earthquake in the Republic of Turkey. Opening the luncheon, Executive Director of AmCham Azerbaijan, Ms. Gulnara Aslanbayli welcomed the participants. Ms. Aslanbayli briefly touched upon the projects implemented within the strategic goals of the Chamber, as well as talked on the upcoming plans and events. She also informed the audience on the start of the drafting of White Paper 2023 and called all members to be actively involved in the preparation process. President of AmCham Azerbaijan Ms. Nargiz Nasrullayeva-Muduroglu introduced the honorable guest speaker Chairman Mr. Shahin Baghirov and expressed her congratulations for his recent appointment. Ms. President also emphasized sustained activity of AmCham Azerbaijan on continuing supporting and promoting the interests of foreign and local businesses in Azerbaijan, as well as significance of the established fruitful dialogue and successful cooperation with the State Customs committee in this direction. The chairman of the State Customs Committee, the lieutenant general of the customs service Mr. Shahin Bagirov noted that he attaches special importance to the establishment of relations with business representatives of the customs bodies on a business basis, as well as open and transparent dialogue in customs-business cooperation, and emphasized that necessary steps have been taken to increase the efficiency of mutual relations. It was also mentioned that one of the main goals defined for the customs service is to create fertile conditions for business subjects in the customs field, to study and implement their suggestions and opinions regarding the adopted decisions and applied innovations.For this purpose, it has been brought to attention that the action plan has been prepared by the customs authorities in recent times, and the implementation of innovative projects based on digital solutions has been started to increase the rationality, transparency, and accessibility of the procedures, to implement the customs operations in an easy and fast manner. The chairman also delivered an information on the mission of the customs authorities, the priority directions of the future activities, strategic goals, and the projects, innovations, and benefits for businesses. The presentation was followed by an interactive Q&A session, where suggestions and opinions of business representatives were considered, and all questions were addressed by the Chairman Baghirov.Afterwards, AmCham Tax & Customs committee chairperson Ms. Narmin Aslanova gave a brief information on the upcoming plans and activities of the committee. She also highlighted that the Chamber attaches significant value to the collaboration with the committee and further strengthening of ties among customs authorities. Associate professor at ADA University Mr. Anar Valiyev delivered a presentation on the results of the research project on “Factors affecting Education-Labour market mismatch in Azerbaijan and finding sustainable solutions for employers” jointly implemented with the Chamber.Thereafter, member presentations on portfolio and activity direction of the companies were delivered by Grand Logistic Center and ISR Auto. Over 150 people participated in the luncheon including high-ranking government officials, representatives of diplomatic corps, senior executives from business community and member companies.Click for highlights from the luncheon
AmCham Executive Director Participated at the Meeting of the “Property registration and lease” WG
On 27 January 2023, Executive Director of AmCham Azerbaijan, Ms. Gulnara Aslanbayli attended the meeting of the “Property registration and lease” Working Group led by the State Service for Property Issues under the Ministry of Economy. The event was organized by the Commission on Business Environment and International Ratings. During the meeting, amendments to the law on property registration and notaries have been discussed by the different government officials. The meeting also featured the presentation of the 2023 Road Map for the implementation of improvements related to the "Business Location (registration and rental of property)" indicator of the World Bank Group's "Business Enabling Environment" project. Afterwards, participants were involved in the Q&A session, providing their suggestions and feedbacks.
AmCham GALA Concert dedicated to 30th Anniversary of Diplomatic Relations between Azerbaijan and the U.S.
On December 16, 2022, AmCham Azerbaijan hosted a GALA Concert dedicated to 30th Anniversary of Diplomatic Relations between the United States and Azerbaijan. The GALA evening featured performance of Azerbaijan State Symphony Orchestra named after U. Hajibayli conducted by People's Artist of Azerbaijan Mr. Yalchin Adigezalov, and solo performance by Ms. Seljan Nasibli. During the concert, guests enjoyed the impressive classical music performance of the compositions of most celebrated Azerbaijani and U.S. composers: Samuel Barber, Fikrat Amirov, George Gershwin and Gara Garayev .Around 500 guests including high-ranking government officials, ambassadors, representatives of diplomatic corps, senior executives from business community and member companies attend the event. Click for the highlights from the Gala Concert Click for all the media from the Gala Concert
AmCham Executive Director Ms. Gulnara Aslanbayli participated at the Impact Week in Brussels
At the beginning of December 2022, Ms. Gulnara Aslanbayli participated at the Impact Week in Brussels. The purpose of the visit was the Chamber’s intention to create new platforms uniting people who bring innovation to Azerbaijani society through socially responsible and sustainability initiatives. Impact Week is a unique network at the intersection of finance and purpose, driven by knowledge and focused on impact. It strives to increase prosperity and social progress for all, fix inequalities and injustices and preserve the planet. It builds synergies that tackle critical social and environmental problems at scale – and change mindsets. To accelerate positive change for people and planet, EVPA organized Impact week in Brussels to bring changemakers together to mobilize capital for true social transformation. Lots of fresh ideas that can enable net-zero economy, ease inequalities and elevate economic and social prospects for all were presented at the Impact week.It should be emphasized C Summit was organized in the framework of the Impact week. The C Summit was central to the goals of Impact Week, offering a way for corporates to see the whole picture of impact – the better to make that picture a collaborative masterpiece.The joint sessions were dedicated to the discussion in the broader context of the impact ecosystem and leverage corporate impact efforts to form meaningful coalitions around 10 action area – net-zero prosperity, future of the health, impact heroes, impact cities, impact united, food, smart impact, impact synergies and transformative impact.
15th Annual AmCham Black & White Ball 2022
On December 3, 2022, the American Chamber of Commerce of Azerbaijan (AmCham Azerbaijan) hosted its 15th Annual Black & White Ball in Gulustan Palace. Traditionally the Ball brought together business leaders, government officials, ambassadors in an absolutely unique environment.With more than 600 guests, this spectacular landmark event became the highlight of AmCham’s social calendar. This year’s Ball – themed as “Angels & Demons” – embraced the atmosphere of the grandiose evening of elegance and grace with guests enjoying spectacular live music, magnificent entertainment show, outstanding program and experience. The audience was welcomed with the official opening speeches by Executive Director of AmCham Azerbaijan Ms. Gulnara Aslanbayli, Mr. Nargiz Nasrullayeva-Muduroglu, President of AmCham Azerbaijan as well as Mr. Hugo Guevara, Deputy Chief of Mission at the U.S. Embassy in Baku.Afterwards, the floor was passed to the chief representatives of the Platinum and Gold Sponsors:Platinum Sponsor: BP - Mr. Bakhtiyar Aslanbayli, Vice President for the Caspian region, Communications and External Affairs. Gold Sponsors:Procter & Gamble Inc. Azerbaijan Branch -Mr. Deger Kurtaslanoglu, General ManagerPMD Group - Mr. Dayanat Sadullayev, Chief Executive Officer PASHA Insurance OJSC – Ms. Ulviyya Jabbarova, Chief Executive Officer Farchitects LLC - Mr. Farid Safquliyev, Chief Executive Officer It should be noted that a large number of generous Silver, Bronze and Other sponsors have also contributed to the organization of the event.The evening was concluded with a surprising raffle draw with over 120 winning tickets and dances till dawn. The top prizes of the raffle draw were round trip tickets to Milan, Italy and NY, U.S. Please note that raffle tickets starting from 1 to 120 are all the lucky winning tickets. Winning tickets’ list can be reviewed from the following link. Please check your raffle coupons and come to AmCham office to pick up the prizes. Prizes will be given only with the lucky tickets provided. Click for the highlights from the Ball Click for all the media from the Ball
Two-day CSR Workshop was held in Shamakhi
On November 27-28, 2022, two-day CSR Workshop jointly organized by AmCham Azerbaijan and the U.S. Embassy in Azerbaijan titled the “Business Benefit of Effective Corporate Social Impact Strategy” was held in Shamakhi. The workshop was aimed to strengthen members' capacity and build shared language to promote collaboration, advance CSR, and build ties of cooperation between private and public sectors. The invited guest speaker was Mais Abbas Abousy, Attorney-Advisor with the Commercial Law Development Program (CLDP) in the Office of the General Counsel of the U.S. Department of Commerce. The workshop was moderated by Alisa Oyler, skilled facilitator, trainer, and curriculum designer with experience working in over 20 countries.The first day of the workshop featured comprehensive presentation on “Business case for CSR/ESG” by Mais Abbas Abousy and group discussion on how to identify business-based social purpose and the people that could benefit. Afterwards, to explore examples of CSR strategy in Azerbaijan, the panel discussion was held with the participation of: Blake Dawgert, Economic and Commercial Officer at the U.S. Embassy in Azerbaijan, Fidan Tofidi, Corporate Stakeholders Engagement Division Head at Pasha Bank, and Rena Tahirova, Sustainable Development and Communication Manager at Holcim Azerbaijan. The first day of the event was followed by an interactive session on partnership and knowledge-sharing models where participants shared their views from different perspectives. The second day of the workshop started with the brief presentations of the participants from government sectors on CSR/ESG: what they have done and what are their future plans. Kamran Abbaszada, Leading Specialist in Sustainable Development and Social Policy department at the Ministry of Economy in Azerbaijan, Haji Aliyev, Head of the International Relations and Project Management department at the State Employment Agency and Javanshir Maharramov, SME agency regional representative for Shirvan region shared their agency’s experiences and plans with all participants. During the final session, participants created individual strategies to advance CSR/ESG and involved in group work with peer coaching.The workshop was concluded by overview of the next steps/actions and awarding certificates to the participants for their active contributions.
AmCham Members’ November Luncheon with Minister Mr. Anar Karimov
On November 25, 2022, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) organized its Members’ November Luncheon with honorable guest speaker Mr. Anar Karimov, Minister of Culture of the Republic of Azerbaijan. Around 180 people participated in the Luncheon including high-ranking government officials, representatives of diplomatic corps, senior executives from business community, member companies and media representatives.Opening the event, Executive Director of AmCham Azerbaijan, Ms. Gulnara Aslanbayli welcomed the participants of the Luncheon. Ms. Aslanbayli briefly touched upon the projects implemented by the Chamber, as well as informed the participants on the upcoming plans and events. Information on Large-scale Education research project with ADA University, Black & White Ball 2022 and AmCham GALA concert were delivered to the audience. During the speech, Ms. Aslanbayli also announced newly joined members of the Chamber: Azerbaijan Supermarket LLC; Grand Logistics Center LLC; HRC Engineering & Resources Ltd and AzSmart LLC.President of AmCham Azerbaijan, Ms. Nargiz Nasrullayeva-Muduroglu introduced the honorable guest speaker minister Mr. Anar Karimov and expressed her gratitude for his participation at the Luncheon. Ms. Nasrullayeva-Muduroglu emphasized sustained activity of AmCham Azerbaijan on continuing supporting and promoting the interests of foreign and local businesses in Azerbaijan, as well as significance of the established fruitful dialogue and successful cooperation with government institutions in this direction. Mr. Anar Karimov welcomed and expressed his gratitude to all AmCham members and guests. Mr. Karimov delivered a comprehensive presentation on the strategic view of the Ministry of Culture, its main goals and objectives, public-private sector partnership, future reforms and current activities. Mr. Minister gave an informative speech on the cultural heritage, located in the territory of Azerbaijan, reflected on the cultural diversity of our country and expressed the importance of protecting and restoring all cultural and religious monuments, regardless of their origin, within the framework of the restoration process in the territories freed from occupation. Afterwards, Mr. Elnar Mammadli, Head of the Foreign Relations Department of AzTV announced the premier of the teaser of the first season called “Atabeys: Shamseddin Eldeniz” of the historical multi-series to be broadses on AzTV soon. The teaser of the movie was prepared in partnership with the Ministry of Culture, "Azerbaijan Television and Radio Broadcasting" CJSC, the History Institute of the Azerbaijan National Academy of Sciences, the Azerbaijan Institute of Theology and the "IMZA" Social Development Support Public Union. Later, Chairwoman of the AmCham Marketing, Communications and Business Development Committee, Ms. Aysel Suleymanova briefed the Committee’s upcoming plans and activities. Thereafter, member presentations on portfolio and activity direction of the company were delivered by FINADCO.At the end of the Luncheon, Mr. Alibala Maharramzade, Founder of "Shahdag film shortly spoke about the work being done with incredible and professional team in preparation of the historical multi-series and urged private sector representatives to further contribute to the project. The event was concluded by closing remarks of Ms. Gulnara Aslanbayli.