Press Review August 4, 2018

The development of industry, the activity of the Deposit Insurance Fund, and the increase in duties on state registration of mobile phones are the leading topics of today's press.

The newspaper Azerbaijan writes about the development of the country's industry, which is the priority of economic policy. The example is the creation of industrial parks and areas. A special place is occupied by the Sumgait Chemical Industrial Park and a propylene plant, opened within the framework of the SOCAR Polymer project, which produces 19 kinds of propylene.

The author notes that for 6 months of the current year the non-oil industry increased by 8.8%.

The website Modern.az writes that the Deposit Insurance Fund is on the verge of collapse, as it lacks financial resources. This was facilitated by the closure of banks in 2015-2016.

Abroad, such structures are active in the securities market and in the real estate market. However, there is no such practice in Azerbaijan.

The return of the insured deposits of the closed Bank Standard became possible only with the help of the Central Bank.

The website Bizimyol.info writes about the increase in duties on state registration of mobile phones by 20-150 manat. The chairman of the Association of Free Entrepreneurs Eyub Huseynov believes this decision of the Cabinet contradicts the UN document on the availability of goods and services to consumers. This decision looks like a restriction of consumers' rights, the expert notes. -0----