Within three months, the Ministry of Economy will complete the study of prospects of creation of industrial zones in the Agstafa region and the city of Ganja. This was reported at the October 13 Board meeting.
The main requirement for the formation of these zones is the use of local industrial capacity and labor resources. Research is also conducted in other regions of the country.
In 2011, Azerbaijan adopted a decision on the creation of industrial parks in Sumgait, the Balakhani settlement, the Garadagh and Pirallahi districts of Baku, Mingachevir, the technology park in the Pirallahi district of Baku, as well as industrial areas in the Neftchala and Masalli regions. 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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