In the first quarter of 2015 the Georgian economy was invested $ 175 million of direct foreign investment, of which $ 59 million, or 34% falls on the share of Azerbaijan, reported the National Statistics Office of Georgia.
Compared with the same period in 2014 ($ 265 million), direct foreign investment in Georgia fell by a third, while investors from Azerbaijan increased activity compared to the first quarter last year by 25.5%. Thus, Azerbaijan has occupied the leading position in terms of investment in the Georgian economy, ahead of investors from Turkey (US $ 27 million) and Russia ($ 23 million). Investments were directed mainly in the sphere of transport and telecommunications.
According to official data in 2013 and 2014, Azerbaijan invested in Georgia's economy $ 82 million and $ 303 million as direct investment. ----08B
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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