President Ilham Aliyev has identified government investment priorities in the field of industrial and agricultural production in the coming years.
According to the order, economic activities are defined by separate administrative territories, as well as the criterion for the minimum investment projects for each of them.
The country is divided into five investment zones. These are: Baku; the suburban settlements of Baku and the Absheron region; Sumgait and Ganja; Nakhichevan Autonomous Republic, cross-border and border areas; other areas.
Total identified are 31 types of economic activity that are priorities for investment. The minimum amount of investments in them depends on the region and ranges between 0.2 million - 10 million manat. Only for one of them (the extraction and processing of metallic ores) the minimum amount of investment should reach 50 million AZN. -----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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