The State Committee on Property (SCP) has announced this year's first investment competition, which exhibited almost 100% of the shares of Ganja house-building plant. This company cannot find a customer for over 10 years. The SCP calls for 99.96% shares of JSC «Gence Menzil Tikinti» 550,000 manat or $ 343 750. Last time the shares were offered to investors in April 2014. Since then the company’s liabilities decreased from 519.600 to 315.100 manat. The debtors have not repaid, and the debts of the company remained at the same level - 248.900 manat.
The investors have to restore the activity of the enterprise or create any production.
The Ganja DSK was put into operation in 1979, has seven employees. The authorized is about 2.7 million manats.
In January was announced the preparation of the new State Program of Privatization of State Property. The current program was adopted in August 2000. --08D--
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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