The desired directions of business in Lankaran have been determined.
According to the National Entrepreneurship Support Fund (NFES), projects to create specialized "green market", modern farms for vegetable and tea growing, fish farming and small livestock farms will be considered advantageous.
Holders of such documented projects 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 project.
NFES at the Ministry of Economy and Industry was established in 1992. It has 59 banks and micro-finance organizations as agents working with it. Last year, for the needs of business AZN 295 million was allocated. The allocation of AZN 250 million is planned at the end of this year. --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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