JSC Azerbaijan Investment Company (AIC operates under the Ministry of Economy and Industry) has signed a contract with the company M-NAF for the construction of an industrial district in the Neftchala region. The cost of the contract is 21 million 823 thousand manats, the State Procurement Agency said.
Prior to that, in 2014, Sumgayit Chemical Industrial Park (under the control of the MEP) entrusted the company with building entrance and internal roads. The cost of work was estimated at 44.7 million manats. In the previous year, these same parties entered into several contracts worth over 31.6 million manats.
In 2013 MEP concluded with this company several contracts worth over 10 million manats.
Just a few small purchases were carried out by the company M-NAF for the needs of Azerbaijan Fund for Export and Investment Promotion (AZPROMO).
The name of the company appears only in the projects financed from the state budget and only in MEP structures.
The ordinance on the establishment of an industrial area in the Neftchala district on 10 hectares of land was issued in February this year. The organization and regulation of the activities has been entrusted to AIC JSC. -0--
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review