Baku, Azerbaijan, June 4
Trend:
Economic reforms carried out in Azerbaijan promote the development of the private sector and sustainable growth of non-oil production in the country, Minister of Economy Shahin Mustafayev said at a conference titled “The State is the best partner of the entrepreneur”, Trend reports from the event.
In order to promote non-oil exports, the government has launched a budget support mechanism for businessmen. As part of the program, exporting entrepreneurs received over 12 million manats from the state budget in 2017, the minister said.
The minister also noted that 28 export missions have been organized so far, and the country has presented its products at 24 international exhibitions.
“As a result, the export of non-oil products increased by 24 percent in 2017, and 10 percent in 2018,” Mustafayev said.
An export promotion mechanism will be applied according to the order approved by the cabinet of ministers. The exporter may receive up to 3 percent of the customs value in the export declaration (base amount). The list of products mainly includes agricultural products, as well as cotton and leather products, alcohol, carpets, etc.
Concerning investments made to the country, Mustafayev noted that their volume from abroad amounted to almost $130 billion (from 2004 to the end of 2018). The same amount was invested by the government itself, he noted.
Currently, the share of the private sector in the country's GDP has grown, reaching 85 percent. The minister also noted that the private sector accounts for more than 76 percent of jobs.