Priority for Oguz Entrepreneurs
The priority in lending businesses in Oguz has been determined. According to the National Fund for Entrepreneurship Support (NFES), considered to be the most appropriate are projects for specialized "green shopping" and family farms with up to 50 head of dairy cattle. In addition, local conditions may demand intensive vegetable growing farms, grain farms, wine growing and bee-keeping, as well as enterprises for the production of cheese, dried fruits and sweets.
The authors of these projects can count on the support of the Fund and the relevant advice. In addition, loans may be allocated, amounting up to 100% of the cost of the project, the website of the Ministry of Economy and Industry reported.
NFES was established in 1992. It provides loans through agents - 50 banks and non-bank credit organizations. Last year, it allocated 295 million manats. --17D-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review