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
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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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