The Ministry of Economic Development held a meeting with South Korean experts that discussed the progress of the project "The development of special economic zones (SEZ) and industrial zones."
At a December 27 meeting, representatives of the Korea International Cooperation Agency (KOICA) and the Korean corporation industrial complexes (KICOX) recommended in parallel to study the international experience in the formation and management of industrial parks.
As you know, in December 2011 the Azerbaijani government began to establish industrial parks in Sumgait and Baku Balakhany. The government provides tax and other incentives for plan to work in the parks business.
The meeting also touched on the location of industry policy, the development of industrial parks, and the stages of its creation.
In October 2011, the Government of the Republic of Korea provided a grant to implement the idea of ??creation in Azerbaijan special economic zones and industrial towns.
AR Law "On special economic zones" was adopted in December 2009. Also approved were several by-laws. Yet to be determined is the location of a place for the SEZ. There are projects to develop SEZ in a newly built commercial seaport Alat Baku and the Baku Heydar Aliyev International Airport. --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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