Priority areas of lending business in the Dashkesan region have been defined. According to the National Fund for Entrepreneurship Support (NFES), in this region it is advisable to create livestock, beekeeping and potato-growing farms, enterprises processing and packaging fruits, enterprises for the production of plastic windows and doors, decorative stone, socks and sweets.
Special projects will be discounted - the authorized credit organizations of the Fund will definitely take them and give the authors of the draft advice. The Fund may allocate even a loan of up to 100% of the project cost.
NFES was established in 1992. Its credit agents are more than 50 banks and micro-finance organization. Last year, the volume of lending to local businesses through NFES was at 295 million manat. --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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