NAKHCHIVANTODAY.COM reports that, speaking at the event held at the Nakhchivan Business Center on February 27, Chairman of the Supreme Assembly Vasif Talibov said: “Support for entrepreneurship and care for the private sector is the main direction of the economic development strategy authored by our national leader Heydar Aliyev.” The successful continuation of this path by President Ilham Aliyev has opened wide opportunities for entrepreneurial activity in Azerbaijan and its Nakhchivan Autonomous Republic. In the Autonomous Republic, state support for the private sector has been increased, the system of registration and licensing of business entities has been simplified, and a favorable investment climate has been created. At present, 88 percent of the gross domestic product in the autonomous republic falls to the private sector.
The Chairman of the Supreme Assembly said: The main goal in the development of entrepreneurship is socio-economic efficiency. In recent years, the conditions created for entrepreneurial activity in the autonomous republic, along with ensuring the dynamic development of the economy, have created jobs, increased employment and welfare of the population. At present, 85% of the employed population in the autonomous republic works in the private sector, and 93% of the industrial output is the private sector. Without agriculture, it is impossible to develop entrepreneurship or ensure food security. Therefore, attention is paid to the development of the agrarian sector in the autonomous republic, landowners and farmers are provided with modern machinery and technological equipment, mineral fertilizers, subsidies and soft loans are provided, the agrarian insurance system is applied. About 100 percent of agricultural production in the autonomous republic is based on private property.
It was noted that one of the main factors stimulating the development of the private sector is the provision of access to affordable financial resources for businesses. Today, the lowest average interest rate on loans issued by banks for economic activities is applied in the autonomous republic. In 2020, more than 37 million manat were given to entrepreneurs in the autonomous republic, 138 new production and service areas were created. In addition, 7,279,000 manat of financial aid was provided to businesses to overcome the difficulties caused by the pandemic virus in the autonomous republic. Supporting the activities of family farms in the Nakhchivan Autonomous Republic has created conditions for the development of small and medium enterprises, and most importantly, to ensure self-employment and increase local production. At present, there are more than a thousand large family farms in the autonomous republic. Among the self-employment measures, the involvement of low-income families in active labor also has a special place, and support is provided to this category of families. Along with all sectors of the economy, entrepreneurship has expanded in the service sector in the autonomous republic. The complex construction work, the formation of a modern road and transport infrastructure, the growth of local production and, most importantly, stability have led to the development of the tourism sector and the expansion of entrepreneurial activity in this area.
“The main directions of our activity are to meet domestic demand through domestic production and increase our export potential,” he said. The development of entrepreneurship in the Autonomous Republic in all respects has contributed to the growth of local production and the expansion of foreign trade relations, the production of export-oriented products has been achieved. At present, 384 types of products are produced in the autonomous republic, and the demand for 350 types of products is met entirely by local production. The autonomous republic, which has trade relations with 72 countries, has had a positive balance in foreign trade for 11 years. These successes once again confirm that the conditions created by the state for entrepreneurs in the autonomous republic, as well as the proper use of care provided by entrepreneurs, have ensured the overall development.
The Speaker of the Supreme Assembly thanked those who contributed to ensuring socio-economic development in the Nakhchivan Autonomous Republic and achieving successful results in the private sector, as well as all entrepreneurs.
“The autonomous republic has all the opportunities for entrepreneurial activity. To effectively use these opportunities and achieve better results, both government agencies and entrepreneurs must constantly think, effectively use the economic and investment opportunities of the autonomous republic,” he said. , The Ministry of Economy and the Confederation of Entrepreneurs should analyze the needs of the domestic market and export opportunities when making proposals for the creation of new production areas, develop sound business plans, clearly define the profitability of enterprises. The development directions of small and medium enterprises should be studied, production and service areas based on local resources should be created taking into account the prospects of socio-economic development of the regions, and the activities of family farms should be supported. The Nakhchivan Autonomous Republic Office of the Central Bank and the Entrepreneurship Support Fund must properly assess the need criteria when issuing loans, and the financial risks must be seriously investigated. The Ministry of Labour and Social Protection of Population should continue to work on the employment of low-income families within the self-employment program, and control the rules of labour protection in enterprises.
The Chairman of the Supreme Assembly said: “The establishment of production facilities in the Autonomous Republic based on modern technologies and working with local raw materials is part of the work.” The main task is to produce quality products. Every entrepreneur should think about quality rather than quantity. The State Service for Antimonopoly and Consumer Market Control should also strengthen quality control and achieve the production of competitive products. The State Customs Committee should create the necessary conditions for entrepreneurs producing export-oriented products, simplify customs inspections and give preference to electronic services. Entrepreneurs should also try to sell their products not only in the domestic market, but also outside the autonomous republic, and conduct marketing research. The Ministries of Economy and Agriculture should pay more attention to the expansion of entrepreneurial activity in the agricultural sector, and fairs should be continued.
It was noted that although 2020 was declared the “Year of Exports” in the autonomous republic, restrictions on the pandemic did not allow the full implementation of the tasks. Therefore, 2021 is kept in the autonomous republic as the “Year of Export”.
The Chairman of the Supreme Assembly said: Our national leader Heydar Aliyev said that in order to become a real entrepreneur, first of all you need to do good work, secondly, as an entrepreneur you must make efforts for economic development of the country, always protect your reputation, respect and image. The recommendations of a genius are the main line of action for every entrepreneur. Our state fulfils its responsibilities. Entrepreneurs must also fulfil their obligations to the state, create safe and healthy working conditions in production and service enterprises, properly assess the existing opportunities and contribute to the overall development.
The Chairman of the Supreme Assembly wished entrepreneurs success in this endeavour.