BAKU, Azerbaijan, April 29. Diversification of
the economy is at the core of our strategic goals, and the non-oil
and gas sector has already become the main driver of economic
growth, Azerbaijani Economy Minister Mikayil Jabbarov said at an
event in Baku today titled "Entrepreneurship Development is a
Strong Economy," Trend reports.
He added that as a result of the targeted economic policy
implemented, important results have been achieved in the direction
of diversification in the Azerbaijani economy.
"The share of the non-oil and gas sector in GDP has increased
significantly. The private sector plays a major role in the
diversification of the economy, foreign economic policy, and the
arrival of international economic partners to our country.
We thank the entrepreneurs who work honestly in the development
of Azerbaijan. The state also constantly supports entrepreneurship,
especially small and medium-sized businesses, with various
mechanisms for the development of competitive and export-oriented
sectors. These mechanisms will be further expanded to ensure the
sustainable development of entrepreneurial activity against the
backdrop of global challenges.
One of our expectations from entrepreneurs is to increase
productivity. The main condition for this is knowledgeable and
skilled personnel. At the same time, improving the technological
level of enterprises and investing in long-term projects are also
important factors," Jabbarov said.
The Minister emphasized that a support measure is envisaged to
cover a certain part of the transport costs of entrepreneurs in
order to expand their export opportunities.
"Currently, tax breaks are in effect in the Alat free economic
zone, industrial parks, and liberated territories. In addition,
10-year tax breaks are being applied in the Nakhchivan Autonomous
Republic from this year," he concluded.
