National Fund for Entrepreneurship (NFES) under the Ministry of Economic Development has funded for three months 2014 1014 projects totaling $ 44.7 million manat. This is quantified by 67% more , and in total - 45 % less than in 2013.
As stated in the fund during the reporting period to finance 15 large projects has been allocated 32.7 million or 73.2 % of total assets. 993 for small projects was taken by 11.1 million manat, on average 6 - 0.6 million manat. The result has been to create more than 2.5 thousand new jobs.
Projects were mainly implemented in the production and processing of agriculture and industry. - 15D -
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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