The desired business areas in the Shamakhi region have been determined.
As stated in the declaration of the National Fund for Entrepreneurship Support (NFES), the Fund will consider advantageous projects of creation of grain farming, livestock breeding, beekeeping, wine growing, potato and almond growing, enterprises for the production of cheese, bread and pastries. Also announced is selection of investment projects for the construction of a three-star hotel in the area.
Holders of such documented drafts will have priority in consultation with the authorized credit organizations. With a little luck, banks can give them a loan of up to the full cost of the projects.
NFES at the Ministry of Economy of Azerbaijan was established in 1992. Its agents are 59 banks and micro-finance organizations working with him. Last year, AZN 295 million was allocated for the needs of business and allocation of AZN 250 million is planned at the end of this year. --17D-
Economics
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As 2024 comes to a close, Azerbaijan finds itself at a crossroads—holding a prominent position in certain sectors of the global economy but still grappling with issues that hinder broader socioeconomic development. From energy exports to logistics corridors, the country has carved out a niche, yet cracks in its socioeconomic fabric are becoming harder to ignore. Let’s delve into the numbers and listen to expert opinions on Azerbaijan's global standing.
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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