Baku, Azerbaijan, May 25
By Ilkin Shafiyev - Trend:
Azerbaijan’s non-oil industry grew by 10 percent in January-March 2018, Azerbaijani Economy Minister Shahin Mustafayev said.
Mustafayev made the remarks in Baku May 25 at the conference dedicated to the Day of Entrepreneurs. The minister added that the figure for 2017 was 3.7 percent.
"The non-oil export volume increased by 35 percent in January-March 2018,” he said. “As for the figures over the past 15 years, Azerbaijan’s economy has grown by 3.2 times. Entrepreneurs, especially representatives of the non-oil sector, play a key role here.”
“The number of business entities increased fourfold in January-March 2018, the number of legal entities increased by more than twice, while the number of individuals increased by five times,” Mustafayev said. “Moreover, 75 percent accounts for the private sector in the employment structure."
The minister stressed that Azerbaijan attaches great importance to the development of entrepreneurship.
"Entrepreneurs are provided with concessional loans,” he said. “The number of licenses, necessary to do business, has been reduced. Industrial parks, agricultural parks, business incubators are created. Business forums are held. Export delegations are organized. Mechanisms for encouraging investments and exports have been created. Reforms are carried out in the tax and customs systems to stimulate entrepreneurship.”
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