The priority directions of business lending in the Khachmaz region through the National Fund for Entrepreneurship Support (NFES) have been identified.
According to the Ministry of Economy, local business people should develop projects of intensive horticultural farms, shops selling environmentally friendly products, agroindustrial complex, livestock farms, modern greenhouse complexes, enterprises for processing of milk and production of sweets.
Those who prefer this may be eligible for advice from the Fund experts, and if lucky, the allocation of money up to 100% of the loan value.
NFES has been operating since 1992 and provides loans, including discounted ones, through 59 agents - banks and micro-finance organization.
According to official data, last year the volume of concessional lending to entrepreneurs from the Fund amounted to 248.5 million AZN. Approximately the same will be allocated by the government this year. --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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