Specific weight of GDP non-oil sector to make 76-77%

Business Materials 23 December 2005 15:45 (UTC +04:00)

Over 8,000 companies are operating currently in Sumgayit, deputy head of the Sumgayit executive power Akif Zeynalov told today’s national forum on business- incubators, Trend reports. According to him, about 200-300 legal entities have been registered during the year.

Zeynlaov considers, Sumgayit as the second industrial city in the country has a large potential and the issue is always on the agenda of the city authorities. Some 15,000 jobs have been created in the town lately. There are large opportunities for production in the city. Meanwhile, the support from the entrepreneurs is needed.

Zeynalov thinks opening of the branches of banks will facilitate it; during the last two years setting up of branches of 10 banks is observed here.

The head of the office of the Ministry for Economic Development Samir Veliyev thinks, establishing of business incubator facilitates development of entrepreneurship, creating jobs, which are the key goals of the state programs for social вЂ"economic development of the regions, on fighting poverty, development of entrepreneurship.

According to him, the Ministry supports the idea of establishing business incubators which will impact socio-economic development of the region.