The desired directions of business in the Gakh region have been specified.
According to the National Entrepreneurship Support Fund announcement (NFES), it will mainly consider projects to establish beekeeping farms, large farms, gardening, livestock breeding, tobacco growing, and enterprises for the production of bread, fruit processing, and tourism, including the construction and operation of three-star hotels.
Authors of such 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 projects.
NESF at the Ministry of Economy and Industry was established in 1992. Sixty banks and micro-finance organizations cooperate with it as agents. Last year, 295 million AZN was allocated for the needs of entrepreneurs. The allocation of 220 million manat is planned this year. --17D-
Economics
-
The Eurasian Development Bank (EDB) is actively exploring the possibility of expanding its shareholder base to include neighboring countries such as Azerbaijan, Turkmenistan, and Mongolia. This was announced by EDB Chairman Nikolai Podguzov at a press conference on December 5, 2024, where he emphasized the importance of expanding the bank’s membership to foster sustainable growth.
-
In 2023, the trade turnover between Azerbaijan and Turkey reached $7.5 billion, aligning with 50% of the target set by both nations, which aims for $15 billion in future bilateral trade. This milestone was shared by Barış Altıparmak, the World Turkish Business Council representative for Azerbaijan, during a meeting of the Eurasian Council of the organization in Baku.
-
Azerbaijan's President Ilham Aliyev signed a decree on Thursday to establish the Nakhchivan Industrial Park in the Nakhchivan Autonomous Republic, aiming to foster competitive production and bolster entrepreneurial growth.
-
SOCAR and Yokogawa Electric signed a Memorandum of Understanding (MoU) on Thursday to enhance their collaboration.
Leave a review