The desired directions of business in the Bilasuvar region have been specified. As stated in the declaration of the National Fund for Entrepreneurship Support (NFES), projects to create large grain farms, modern cattle farms, intensive horticultural farms and greenhouses, as well as the construction of a three-star hotel will be considered advantageous.
Holders of such documented projects will have priority in consultation with the authorized lending agencies. With a little luck, banks can give them a loan of up to the full cost of the projects.
NESF at the Ministry of Economy and Industry was established in 1992. Its agents are 59 banks and micro-finance organizations. Last year, AZN 295 million was allocated to entrepreneurs. The allocation of AZN 220 million is planned this year. --17D-
Economics
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Azerbaijan's Cabinet of Ministers has approved amendments to the list of strategically important goods in the country's consumer market, as outlined in Decision No. 136 dated April 27, 2023. The update aligns with the implementation of the Law on State Reserves and a corresponding presidential decree, the government announced on Thursday.
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Representatives of Azerbaijani and Latvian business circles convened in Baku for the "Azerbaijan-Latvia Information and Networking Meeting," marking a significant step in bolstering economic cooperation between the two countries. Latvian Ambassador to Azerbaijan, Edgars Skuja, underscored the event’s mission to connect entrepreneurs from both nations, aiming to enhance collaboration across multiple sectors.
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The President of Azerbaijan approved the amendments on November 7, which were made to the “Law of the Republic of Azerbaijan on Credit Bureaus” by the Milli Majlis. The text of the amended law was published on November 28.
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The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, urging the country to take bold steps to improve economic governance and foster private sector development. The report outlines key priorities for Azerbaijan’s economic trajectory and highlights challenges stemming from its reliance on volatile energy markets.
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