In 2014, the number of active industrial enterprises in Azerbaijan increased by only 7. In general over the past five years, 116 industrial enterprises have been suspended and at the beginning of 2015 there were 2,534 enterprises, the State Statistics Committee (SSC) told Turan.
The country has a growing number of industrial enterprises with 100% foreign capital: by the beginning of 2015, there were 177 industrial enterprises belonging to foreign investors. Last year, 26 companies with 100% foreign capital were launched. In 2009, there were only 133 foreign enterprises in Azerbaijan.
In 2014, industrial enterprises gained 21.6 billion manats in net profit, which was 8.3% less than in the previous year. Over the year the average number of hired employees in industry did not change and remained at the level of 197.2 thousand people.
The cost of fixed assets of industrial enterprises in Azerbaijan was 61.8 billion manats by January 1, 2015, which was 15.4% more than in 2013. In 2010-2014, the development of industry was invested 30.8 billion manats, according to SSC. –0--
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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