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Azerbaijan approves rules on open tenders

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Azerbaijan’s Prime Minister Ali Asadov signed a decree "On approval of amount, Rule of payment and use of funds for participation in purchases carried out via e-procurement by the method of open tender or request for quotations", Trend reports with reference to the Cabinet of Ministers.

The decree was developed in pursuance of Article 29.3 of the Law of Azerbaijan "On public procurements". According to the law, the amount, payment and procedure for the use of funds collected from participation in purchases carried out through online procurement by the open tender method or request for quotations on a centralized Internet portal of public procurements are determined.

"The funds are used for the operation, improvement and maintenance of a centralized Internet portal for public procurements, ensuring the security of the Internet portal, integrating with other government agencies, connecting to the online system of settlements, protecting information and data systems," the Cabinet of Ministers said.

Besides, according to the Cabinet of Ministers, the funds are used for strengthening the social protection of employees of the Ministry of Economy of Azerbaijan, increasing their scientific-technical potential and strengthening the material-technical base.

"As a result of the introduction of the Rule, the scope of application of e-procurement according to the principle of public-private partnership in the relevant field will further expand. Along with the creation of equal competitive conditions for all entrepreneurs on the basis of transparency, the digitalization of the procedure for requesting quotations will be ensured, determination of a fixed amount of participation fees, active participation of micro, small and medium-sized entrepreneurs who must participate in open tenders, including electronic accessibility and clarity of public procurements," the Cabinet of Ministers added.

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Azerbaijan to simplify civil UAV registration procedures

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The Ministry of Digital Development and Transport of Azerbaijan will simplify the procedures for registration of civil unmanned aerial vehicles (UAVs) this year, Deputy Minister Rovshan Rustamov said, Trend reports.

Rustamov made the remark at an event entitled "Priorities in the field of digital development and transport in Azerbaijan".

According to him, to simplify these procedures, it’s necessary to create an appropriate infrastructure to digitalize all processes.

"We want to make the process of registering UAVs as simple as possible. First of all, it’s necessary to take a step towards digital transformation," he noted. "Besides, in order to import these devices to Azerbaijan and register them, it’s needed to apply to nearly seven government agencies, three of which are subordinate to our ministry."

"The consent of third-party institutions is also required, and this takes about two-three months. Thus, we have already identified specific areas and steps that can contribute to the simplification of these procedures," the deputy minister further said.

"In this regard, we can talk about a project which will be created based on a single portal accepting online applications. This year, we plan to fully implement this process," added Rustamov.

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Analysis

CBA hold regular foreign currency auction

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The Central Bank of Azerbaijan (CBA) held a regular currency auction with the participation of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) on Jan. 27, Trend reports referring to the CBA.

According to the CBA, the demand of local banks for foreign currency amounted to $84.2 million and was fully met.

The average weighted exchange rate of the manat to the US dollar amounted to 1.7 AZN/1 USD based on the results of the auction.

The CBA has begun to conduct foreign exchange auctions through a one-way sale of currency in a competitive environment since mid-January 2017.

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Finance Ministry to put up gov’t bonds for new auction

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The Baku Stock Exchange (BSE) will hold an auction on the placement of Azerbaijani Finance Ministry’s medium-term government bonds worth 35 million manat ($2.9 million) on February 1, 2022, Trend reports via the BSE.

According to the exchange, bonds with a face value of 100 manat ($58.8) each with a maturity of 1,092 days and a yield of four percent will be put up for the auction.

Interest payment dates are set for August 2, 2022, January 31, 2023, August 1, 2023, January 30, 2024, July 30, 2024, and January 28, 2025 (the principal payment deadline).

Pasha Capital CJSC will be the underwriter of the placement.

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