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An agro park with a total cost of AZN 14 million is created in the Shabran region on the territory of 1,738 hectares. This is reported by the Ministry of Economy.
The National Entrepreneurship Support Fund (NFES) allocated 10 million manat for the implementation of this project. Neither the Fund nor the Ministry of Economy discloses who owns this agro park and on whose land areas this agro complex is created.
Agro parks are also being established in the Goranboy, Khizi and Agdjabedi districts, where it is also unknown who owns these agricultural companies.
The government supports the creation of agro parks and allocates huge amounts of loans to them. Among them are the Yalama and Shamkir agro parks, which are also financed through the NFES. The implementation of the first stage of the establishment of the Yalama Agro Park in the Khachmaz district has been completed, while the construction in the Shamkir region is continuing. ----08D
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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