Priority areas for lending businesses in Sabirabad have been determined.
According to the report of the National Fund for Entrepreneurship Support ( NFES) , recognized as the most appropriate are family farms for dairy (up to 50 head of cattle) , intensive gardening farms , enterprises producing cheese and dried fruits , specialized " green shops " and bakeries .
According to the fund, entrepreneurs in Sabirabad may submit to the authorized credit organizations their projects in these areas. Also they can get money for consultation. At the same time based on the wishes of entrepreneurs NFES can provide a loan of up to 100 % of project cost.
NFES was established in 1992. Agents of the Fund for loans are 44 banks and non-bank credit organizations.
In 2013, the Fund disbursed subsidized loans for 275 million manat . This year's planned issuance of preferential loans is in the amount 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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