From January to July, the Azerbaijani economy received foreign investment equivalent to 3 billion 217 million 791.8 thousand manats (+ 44.7% to July 1 of the previous year), the State Statistics Committee said.
Traditional leaders were companies from the UK, investing mainly in the oil sector - 1 billion 30 million 207.7 thousand manats, or nearly one-third (32%) of all investments. In the second place were investors from Turkey who invested 456 million 570.5 thousand manats, which is 2.2 times more than the year before. This allowed them to overtake the "forever silver" Norwegians, on account of which was 387 million 148.8 thousand manats (minus 3.3%). Other investors invested immeasurably less money. --17D-
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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