On June 13 President Ilham Aliyev signed a decree on establishment of an industrial quarter in Masalli.
The government is instructed to allocate a land plot of 10 hectares for the industrial activities of the quarter in 3 months. The industrial quarter will be managed by the state-run Azerbaijan Investment Company.
The Economy Ministry will take measures to create internal and external infrastructure of the Masalli industrial quarter and to provide the effective implementation of business activity.
In 2014 it was decided to establish an industrial quarter in the Neftchala district, where the necessary infrastructure is planned and the selection of residents is carried out.
Industrial quarters in regions of the country are to support small and medium enterprises in the industrial sector and the sustainable development of non-oil sector and to increase employment. -----08D
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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