Azerbaijan, Baku, Oct. 12 / Trend I. Khalilova /
The share of oil sector in Azerbaijan's GDP will reduce by 38 percent till 2014 compared to 47 percent in 2009. It will be achieved as a result of the successful diversification of the economy, Shahin Mustafayev, Minister of Economic Development, said at the plenary session of the Azerbaijani parliament.
"The share of non-oil sector in GDP will increase from 45 percent to 53 percent, minister said.
The growth rate of non-oil GDP is projected at 7.2 percent in 2011. The growth will hit 8 percent for the next three years.
"The legislative base and state regulatory systems, business climate will be improved. The activities on state, especially small and medium enterprises will be expanded. Foreign and local investments are planned to be attracted to ensure this growth on behalf of the Azerbaijani President to develop the private sector, " Mustafayev said.
The actions are planned to be made to develop non-oil sector within the state program of socio-economic development of regions.
Over 211 enterprises, including 80 industrial companies, 57 - agricultural companies and 63 - companies rendering services are being built now, minister said.