The Minister of Economy Shahin Mustafayev reported in the official parliamentary newspaper Azerbaijan that the country has 42 logistics centers of the scheduled 52 - for harvesting and storage of vegetables, fruits, seeds and other agricultural industry products.
This is the result of the implementation of soft loans allocated by the National Entrepreneurship Support Fund (NESF) - since 2009 for this purpose there has been allocated 161 million AZN. The senior government official said the aggregate capacity of the commissioned premises is 241,000 tons of the planned 330,000 tons.
NESF at the Ministry of Economy and Industry was established in 1992. A total of 59 banks and micro-finance organizations work with it as agents. Last year, 295 million AZN was allocated to entrepreneurs and 248.5 million AZN was mastered. This year it is planned to allocate from 220 million to 250 million AZN. --17D-
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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