In 2012, total investment in fixed assets in Azerbaijan amounted to AZN 2,600 million, which is 23.4% more than in the previous year. More than half of the investment (1,683.2 million manat) falls on companies from Britain.
Six countries divided about 39% of the portfolio of investments in Azerbaijan in 2012. In terms of investment Britain was followed by the U.S., which accounted for 14% ($ 455.4 million) of investment. Turkey (133.8 million manat) ranks fifth in the structure of investments in fixed assets in Azerbaijan.
Significant contribution to the fixed assets have the World Bank and the Asian Development Bank, the amount of credit used, which in 2012 amounted to 169 million and 120.5 million respectively. - 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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