Restructuring of Azerbaijan's ministry to help develop entrepreneurship
BAKU, Azerbaijan, Oct. 24
By Elchin Mehdiyev - Trend:
There are more than 100,000 legal entities and over 900,000 registered individuals in Azerbaijan today, Mammad Musayev, chairman of the board of Agrarcredit Joint-Stock Credit Organization, chairman of the Azerbaijani National Confederation of Entrepreneurs (Employers') Organizations said.
Musayev made the remark in Baku at the press-conference of the ruling New Azerbaijan Party, Trend reports.
The chairman stressed that this indicator was achieved thanks to the conditions created in Azerbaijan for the development of entrepreneurship and the reforms which are successfully implemented.
Musayev emphasized that the expansion of the structure and functions of the Ministry of Economy will make a significant contribution to the development of entrepreneurship.
"From now on, all issues of entrepreneurs will be resolved at a single address,” the chairman said. “The restructured Ministry of Economy has become a perfect management mechanism."
“More than 9,600 bad assets were accepted from the International Bank of Azerbaijan,” Musayev said. “More than 3.2 billion manat ($1.8 billion) of debts has been paid off.”
The chairman stressed that the debts of more than 1,300 debtors were paid off.
"The work in this sphere is underway,” Musayev said. “In case of necessity, the loans are restructured. More than 4,000 people with credit debts are individuals."