According to the decree of the President of Azerbaijan on November 5, in the superphosphate plant of the Production Association "Azerkimya" (the chemical structure of the State Oil Company of Azerbaijan) on 30 hectares in Sumgait, Hi-Tech Park (HTP) was created.
To control the HTP the Ministry of Communications and Information Technology Company created the Hi-Tech Park - Park Sun entity. The Ministry has the authority to approve the structure, staffing and cost Ltd., appointment of the head and his deputies, forms the Supervisory Board determines the direction of development.
As previously noted by the Chief of the Communications Ministry of Information Society Isfyandiyar Aliyev, there will be split 15 companies in various fields.
Over the next 8 years (pre-program "aims" for the year 2020) will be launched production of advanced optical lenses, glass and basalt fiber, consumer, industrial and automotive batteries. They will not push to the periphery also the production of lamps in LED-technology, inverters, connectors, test equipment, tied to solar energy. Local manufacturers will learn the production co-current cables, etc.
The plans are not only to store the created technological solutions, but also to develop them on the basis of local scientific and technical potential. - 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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