The State Committee on Property still hopes to sell through the investment competition 99.96 % of the shares of Gence Menzil Tikinti (Ganja House-Building Plant) created about 10 years ago. Over the past 4 years its creditor debts increased by 2.5 times.
Under the terms of the contest, the winner can change the profile of the company. In any case, the applicants are required to provide an investment program. Like four years ago, one of the requirements is to provide a proposal for the transfer to the state budget of 850 thousand manats. In 2008, this amount was AZN 1 million and a certain amount of vouchers.
In Ganja there is a variety of construction companies involved in housing and social construction. The reasons for the lack of a formal interest in the venture are not known.
* JSC Gence Menzil Tikinti has acted since 1979. It occupies 3.1 hectares of land. The company employs 4 people. Given the laid-off workers, the wage arrears exceed 64 thousand manats.
The authorized capital of JSC Gence Menzil Tikinti is 2 697 092.8 manat. As of October 1 of this year the commitment was 517.4 thousand manats and the accounts receivable were 248.9 thousand manats. -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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