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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In late February, the governments of Pakistan and Azerbaijan are expected to sign an investment agreement worth $2 billion, which will include several projects with SOCAR (State Oil Company of Azerbaijan). According to Turan, the energy cooperation projects discussed in January in Islamabad and Baku will feature in the agreement. These projects include energy efficiency initiatives, the construction of a pipeline, and SOCAR’s plans to explore the creation of underground gas storage facilities in Pakistan, as well as documents provided by the Pakistani side related to the exploration and extraction of hydrocarbons in the country.
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Azerbaijan continues to face an acute water shortage that affects both drinking and irrigation supplies, a problem that, despite frequent media attention, remains unresolved. Farmers are particularly feeling the pressure.
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BAKU, Feb 3 (Reuters) - Representatives from Azerbaijan’s State Tax Service (STS) participated in the latest session of the working group on tax, customs, and legal issues hosted by the German-Azerbaijani Chamber of Commerce.
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The Agency for the Development of Small and Medium Enterprises (KOBİA) has issued 192 start-up certificates to entrepreneurs, approximately 50% of whom are youth, according to Orkhan Mammadov, Chairman of KOBİA. The announcement was made at the Fifth Young Entrepreneurs Forum in Baku, underscoring the government's increasing focus on fostering innovation among the nation’s young entrepreneurs.
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