Launch of new enterprises under concessional financing in Azerbaijan to triple in 2012

Azerbaijan, Baku, March 17 / Trend A.Akhundov /

The growth of financial and investment opportunities in Azerbaijan has created in recent years conditions for a policy of industrialization based on modern technology, Prime Minister Artur Rasizade said at a plenary session of the Azerbaijani parliament which discussed the government's report on the results of 2011.

"In 2011, high growth was achieved in processing industry of non-oil sectors, including in production in the field of metallurgy, machinery and equipment, chemical industry, building materials and in other areas. In 2011 the first phase of Ganja aluminum plant, new plants and processing plants in various fields in Sumgait Industrial Park and in the regions were launched," Rasizade said.

He said only due to soft loans of the National Entrepreneurship Support Fund under the Ministry of Economic Development 35 enterprises for production, processing and services were commissioned.

"The number of such enterprises, which will be commissioned this year, will increase threefold. During the reporting period, production in agriculture increased by 5.8 per cent, high results were also achieved in the production of grain, meat, milk, fruits, vegetables, melons and gourds. Payment of subsidies to farmers and their provision with equipment of various kinds continued. For reliable provision of population with bread and flour products four-month reserves of wheat were created in the country.

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