The priority areas for lending to entrepreneurs of the Sabunchu district of the capital have been defined.
According to the National Fund for Entrepreneurship Support (NFES) under local conditions it is best to open "green shops", small greenhouses, enterprises for meat cutting, production of pasta, ice cream and sweets.
Entrepreneurs that prefer these areas may be eligible for appropriate advice and a loan of up to 100% of the project cost.
NFES at the Ministry of Economy and Industry was established in 1992. Its agents to extend credits are 50 banks and non-bank credit organizations. Over the past year the volume of business lending by the Fund amounted to 295 million AZN. --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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