Development of small and medium business assumes paramount importance for Azerbaijan President Aliyev

Politics Materials 13 April 2006 14:12 (UTC +04:00)

The development of the small and medium business assumes paramount importance for Azerbaijan, Azerbaijani President Ilham Aliyev stated to a regional business forum organized on 13 April at the Sports-Olympic Complex in Shaki.

Aliyev said that the share of private sector in the Gross Domestic Product (GDP) of Azerbaijan comprises 75%. In the developed countries major part of economy is comprised of small and medium entrepreneurship and we also head for this policy, he added. The President also informed about the construction of the new big industrial facilities like sugar factory in Imishli District, but we also do all possible for the development of small and medium scale business. The development of this sector is very important for Azerbaijan as it means economic and economic progress of the country, Aliyev concluded. He instructed the local and executive authorities not to interfere the entrepreneurs affairs, but support them.

11 businessmen received credits worth 862,000 manats in the business-forum.

At present the Azerbaijani president is conducting a regional meeting on Shaki dedicated to the development of the northwest region of the country.