National Fund for Entrepreneurship Support (NFES) through authorized credit organizations issued since the beginning of 2013 soft loans to entrepreneurs in Azerbaijan in the amount of 155.8 million manat, according to a press release from the Ministry of Economic Development Ministry of Economic Development. This year for the fund is funded 1721 project.
NFBP on Friday organized an event in the village of Ashagy Tala in Zagatala on state business in the Northwest Economic Region. The event was attended by about 100 entrepreneurs.
The Executive Director of the Fund Shirzad Abdullayev said that in general, entrepreneurs operating in the region in 2011 to 2013 from the fund have been issued preferential loans worth 81.8 million manat in 1366 for the implementation of investment projects.
"Financing of these projects will create more than 6.4 million new jobs," said Abdullayev.
As part of today's event preferential loans worth a total of 840 thousand manats were 50 entities. These funds will be used for the implementation of projects for the construction, manufacture of bakery products and bread, and development of animal husbandry, poultry, and logistics. Lending to these projects will create about 150 new jobs. - 17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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