BAKU, Azerbaijan, September 5. The number of employment contracts in Azerbaijan’s non-oil private sector has exceeded 1 million, the country's Minister of Economy Mikayil Jabbarov wrote on X page, Trend reports.
"The number of employment contracts in the private sector of the non-oil industry has now exceeded 1 million. Since 2019, nearly 470,000 new contracts have been concluded in this sector, reflecting an 87 percent increase. Today, the non-oil private sector accounts for more than 55 percent of all employment contracts in the country.
In addition to economic growth and the creation of new jobs, tax reforms have played a crucial role in achieving these results. Specifically, the introduction of a 7-year concession framework—aimed at formalizing (“whitening”) salaries, expanding employment in the non-oil sector, and ensuring greater transparency—has been instrumental in driving this progress," the post reads.
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