The number of bakeries, butcheries, greenhouses and olive farms increases in the Khazar district of Baku.
According to the National Fund for Entrepreneurship Support (NFES), there will be the first stores of organic products, which also relates to the priorities of lending to small and medium-sized businesses in the Baku villages.
Entrepreneurs can submit their projects in these areas to the funds of the authorized credit organizations. They can also get the required consultation. At the same time, based on the wishes of entrepreneurs, NFES can provide a loan of up to 100% of the project cost.
The Fund was established in 1992. Its agents in lending are 46 bank and non-bank credit organizations.
In 2013, the Fund disbursed subsidized loans for 275 million manat. In 2014 the Fund plans to issue loans of 280 million manat. - 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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