The National Fund for Entrepreneurship Support (NFES) granted soft loans to entrepreneurs in Sheki and the surrounding areas.
As reported in the fund are authorized agents of the Fund 45- business entities provided loans totaling $ 638 thousand manats, which in turn will create about 80 new jobs.
Since the beginning of the year 3527 on the financing of investment projects provided more than 245.2 million manat. Total in Sheki -Zagatala economic zone projects were implemented in 1444 in the amount of 83.3 million manat.
NFES was established in 1992 and active lending by the fund began in 2002. Issuance of loans to entrepreneurs is arranged by 38 authorized banks and non-banking credit organizations. In 2012 the fund to finance 2,400 investment projects allocated 218 million manat. NFES loans in 2013 are forecast at 250 million manats. Thus, the fund has mastered 98.1 % of the budget. - 15D -
Economics
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The Azerbaijan Institute of Standardization (AZSTAND) has announced the adoption of a new state standard, AZS 956:2024 "Chicken meat (chicken carcasses, chickens, broiler chickens and their parts): Technical conditions," aimed at addressing deficiencies in the country's poultry industry and improving production quality.
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Eel Electric LLC, a resident of the Agdam Industrial Park, has completed 85 percent of the construction of its power distribution equipment and power sockets plant, the Ministry of Economy announced on Monday.
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The State Tax Service (STS) of Azerbaijan has issued an urgent warning to citizens regarding a surge in fraudulent activities exploiting the name of the country's VAT refund project. According to the STS, cybercriminals have been creating counterfeit websites and online pages that closely mimic the official internet resources of the State Tax Service, luring unsuspecting citizens with promises of VAT refunds.
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On July 30, a meeting of the Working Group on "Inflation and Price Monitoring" was held under the chairmanship of the Head of the Cabinet of Ministers, Rufat Mammadov, to discuss price changes in Azerbaijan's consumer market and the government's anti-inflationary measures this year.
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