Thanks to new industrial enterprises, which are based on local raw materials, dependence on the importation of certain goods declined. By the end of the year the demand for cement will be met by local production. This was stated by Minister of Economy and Industry Shahin Mustafayev.
According to him, in the first half of this year, production of construction materials rose by 16.8%, cement - by 39%. In Sumgait chemical-industrial and Balakhany industrial parks (BIP) were first residents. Sumgayit organized the production of steel and polyethylene pipes, is preparing to release stable high-pressure hydraulic equipment. Admitted in BIP first two companies will produce 120 items of technical oils and plastic products using domestic and industrial waste.
According to the minister, is preparing the legal framework for the establishment of industrial parks in the cities of Ganja and Mingachevir, designed the first industrial area in the city Nefchala. Besides there were considered investment proposals for engineering and preparing proposals for the development of the industry. In the first half of this year, industrial production in the non-oil sector grew by 4.2%.
At the Cabinet meeting on July 10 Shahin Mustafayev also said that work on the creation of a complex steel production is on schedule.
2014 Azerbaijan declared the "Year of the industry." Independent experts have concluded that as most sectors of the economy, industrial production is monopolized in the hands of the oligarchy. "State Machine" is a tool for cleaning their way of surviving entrepreneurs.
The Chairman of NGO Promoting Economic Initiatives, Azer Mehdiyev confirmed Turan the launching of several industrial enterprises in the recent years. "The problem is that with the advent of local goods is given a secret order prohibiting or restricting imports of similar products. This is fundamentally wrong approach in terms of competitiveness in anticipation of the entry into the World Trade Organization," said the economist. - 08D -
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review