Presentation "Investments in Azerbaijan: Business Environment and Opportunities", organized by the Azerbaijani Fund for Export and Investment Promotion (AzPromo) and the Italian-Azerbaijani Trade Institute (ITAZERCOM), was held in Milan.
According to the information of the Ministry of Economy and Industry, the Head ITAZERCOM Manuela Traldi speaking at an event in the framework of the international exhibition EXPO-2015 emphasized the level of bilateral trade with Baku, noting that Azerbaijan is implementing major projects in various sectors of the economy, which also involved and Italian company.
Rufat Mammadov, the head of AzPromo, briefed the participants on the country's economy and the Azerbaijani-Italian economic and trade relations. Participants were presented the possibilities of several specific organizations: the Azerbaijan Investment Company, Sumgait Chemical Industrial Park and Balakhani Industrial Park.
Participants of the presentation also reviewed the Azerbaijani national pavilion at the Milan exhibition EXPO-2015. --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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