The State Committee on Property once again put on an investment competition 99.88% stake in the plant for plastic pipes in Jeyranbatan (Absheron region). This month requirement for transfers to the state budget was reduced by 100,000 manat.
Investors are offered shares at par value of AZN 961,700. Save Profile Company is not a prerequisite of the competition.
The plant was commissioned in 1988. It employs 20 people, who own 0.12% stake in JSC Ceyranbatan Polimer Materiallari. Competition is threaded on August 29th.
In the first half of this year Azerbaijan produced rubber and plastic products totaling 19 million manat, which is 24.4% less than the same period in 2013. It produced 8,300 tons of plastic pipes, which is 33.7% less than in January-June 2013. - 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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