Construction sector to grow in Azerbaijan in 2022-2025
Optimistic forecasts regarding the construction sector of Azerbaijan have been sounded.
ABC.AZ reports that in 2022-25 the construction sector is projected to grow by an average of about 3%. This is reflected in the concept and forecast indicators of economic and social development of the State Budget of Azerbaijan for 2022 and for the next three years. Income of AZN 13.768 bn is expected in the domestic construction sector of Azerbaijan in 2021.
Growth on this industry is forecasted to be 2.9% in 2022, 2.8% in 2023, 2.9% in 2024, and 3.3% in 2025. This figure will reach AZN 14.413 bn in 2023, AZN 15.113 bn in 2024, and AZN 15.883 bn in 2025. Probably, in 2022-25 the revenues of the construction sector will amount to about AZN 60 bn (AZN 59.179 bn). In the next 4 years the share of annual value added in the sector is forecasted to be 43.4%.
Starting from 2021, the unified electronic visa will be introduced in Russia. Prime Minister Mikhail Mishustin approved the list of states whose citizens will be able to obtain it. This list includes 52 countries, these are the states whose citizens could previously enter Russia on an e-visa as part of a pilot project. Qatar has not been included in the list, since a visa-free regime between our countries has been effective since 23 February 2020.
The pilot e-visa project was launched in 2017 and had several restrictions. Foreign citizens carrying such a visa could only cross the border through checkpoints in the Far Eastern Federal District, St-Petersburg, Leningrad Region, and Kaliningrad Region. Moreover, they could not leave these regions.
Now e-visas will be effective on the entire territory of Russia. The border will be crossed through any specially equipped checkpoint, regardless of the region, and travels will be allowed throughout the country. In addition, the period of stay of foreign citizens in Russia will be extended from 8 to 16 days.
E-visas will be issued via the Internet for tourist, business, humanitarian, and guest visits. No invitations, hotel reservations or any other documents confirming the purpose of the trip will be required to obtain an e-visa. The consular fee will amount at $40. Children under 6 years of age will receive e-visas free of charge.
The introduction of the unified e-visa in Russia will help develop tourism, increase the investment attractiveness of the regions, and contribute to the overall growth of the economy.
While Uzbekistan is fully electrified, the quality of service is poor and unreliable due to transmission bottlenecks and aging power generation and distribution assets. The power sector has also struggled to fund new investments because of its weak financial performance. View More Details
ADB channels $200 million towards Uzbekistan`s energy sector
The Asian Development Bank (ADB) has approved a $200 million policy-based loan to strengthen Uzbekistan’s power sector by improving its financial sustainability and ensuring adequate investment in critical infrastructure.
The Power Sector Reform Program will provide budget support and targeted policy actions aimed at restructuring the power sector to enable competition and create a conducive environment for private investment. The program will also streamline sector oversight to ensure fair and transparent competition and consumer protection.
“Reliable and affordable electricity supply is essential for driving economic growth and socioeconomic development,” said ADB Energy Specialist Seung Duck Kim. “As a first of its kind in Uzbekistan’s energy sector, this policy-based loan will be critical to support complex reforms and deepen private investment. By encouraging private sector participation, the program will support the government’s ultimate objectives of creating jobs and improving the quality of life. Clean energy transition will be at the center of reforms to accelerate the development of modern and reliable energy infrastructure that will put greenhouse gas emissions into structural decline.”