On November 29 the auction of the State Committee for Property Affairs (SCPA) managed to sell 19 state-owned property items.
According to the press service of the agency, it sold 6 small enterprises, 3 non-residential premises, vehicles and shares of two joint-stock companies (Metalqab and Zaqatala Kendkimya). The sale of these objects generated 0.5 million manat.
The next auction will be held on December 6.
SCPA noted that the procedure for the participation of investors in auctions is simplified and has created new opportunities. For example, an investor may submit an application and pay the deposit (10% of the starting price of the object) via the www.privatization.az platform. --08D
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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