The next, fourth in a row industrial park in Azerbaijan will be organized in Ganja. The new industrial park will be organized by the enterprise for the production of steel and processing products in steel and aluminum.
According to the Ministry of Economy and Industry, a draft presidential decree on the establishment of the industrial park of Ganja, the position of the park and the economic rationale of its activities are ready.
The main processing plants producing iron ore in Dashkesan, production of iron, steel and metal will be located in the city of Ganja. In April 2013, a state-owned JSC Azerbaijani Complex for the Production of Steel was created. Apparently, in order to stimulate the production of steel the government intends to release the complex from the obligation to pay all the major taxes (other than income tax on individuals) for a period of seven years. Products made in the enterprise will be subject to value added tax.
In 2014, the volume of industrial production in Ganja was 201,500,000 manat, which is 12% more than in the previous year. The share of industry accounted for 39% of industrial output.
In 2011-2014 industrial parks were created Sumgait (has 4 residents), Municipal Solid Waste Landfill in the village of Balakhani (has 3 residents) in Baku and Mingachevir. Meanwhile the Sumgayit Chemical Industrial Park operates only one company - LLC Azertekhnoline (http://www.azertexnolayn.com/az/index). The company produces steel pipes, plastic products and metal. A factory for the production of valves will start work soon. -----08B
Economics
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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