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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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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