Baku, Azerbaijan, Jan. 29
By Huseyn Valiyev – Trend:
So far, 332 investment promotion documents have been issued for 192 entrepreneurs in Azerbaijan, Azerbaijan's Minister of Economy Shahin Mustafayev said on Jan. 29.
Mustafayev made the remarks at a conference in Baku, dedicated to the implementation of the State Program on Socio-Economic Development of Regions of the Republic of Azerbaijan in 2014-2018, Trend reports.
“The total cost of the projects for which investment promotion documents were issued, is more than 2.8 billion manats,” he said. “Up to 22,000 new jobs will be created as a result of the implementation of these projects. So, 87 percent of the projects account for the country’s regions.”
Speaking about the results of the work carried out in the regions recently, Mustafayev stressed that the country’s non-oil sector grew by eight percent, while the non-oil industry by 32 percent in 2014-2018, more than two million new jobs were created, of which 1.5 million of jobs are permanent.
The minister stressed that preferential loans worth more than one billion manats were given to over 16,000 entrepreneurs in 2014-2018.
"Thus, 79 percent of the issued loans accounted for the agricultural sector, 21 percent - for the development of various sectors of the industry,” he said. “About 70 percent of the total amount of the issued loans accounted for the country’s regions. In particular, the amount of preferential loans issued for the development of the cotton cultivation reached 16.5 million manats, tobacco cultivation - 2.1 million manats, construction of an olive processing plant - 13.9 million manats."
“The preferential loans worth 160.2 million manats were given to entrepreneurs in 2018 due to refinancing (cash back),” the minister added. “This year, preferential loans worth about 160 million manats will be given through refinancing.”
(1.7 AZN = 1 USD on Jan. 29)
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