The priority spheres of business in the agricultural sector of the Ujar region have been defined. Following the announcement of the National Fund for Entrepreneurship Support (NFES), the crediting of the following projects is considered appropriate: intensive vegetable growing and horticulture farms, greenhouse and livestock farms, enterprises for the production of cheese, plastic windows and doors, as well as enterprises producing bread.
Local entrepreneurs canrely on the appropriate expert advice from NFES and even on the allocation of up to 100% of the project costs.
NFES was established in 1992. Its agents in the issuance of loans are more than 50 banks and micro-finance organizations.
Last year's lending to local entrepreneurs through NFES amounted to 295 million AZN. --17D-
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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