The State Committee for Property Issues (SCPI) put four objects for privatization, which were rejected by persons who purchased them at previous auctions.
They are two non-residential premises and two stores located in Baku. Due to the fact that investors have not fully paid off the cost of these facilities, the 10% deposit paid for them for a total of 4,620 manat is not refundable.
In the SCPI, Turan was told that such a phenomenon does not happen often. But if the auction winner violates the concluded contract, then the object is put up for auction again.
On April 11, investors were offered to choose among 86 non-residential premises, facilities and small businesses. ------08B
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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