BAKU, Azerbaijan, December 18. A ceremony celebrating the most active entrepreneurs across various sectors of Azerbaijan’s economy took place in Baku under the motto “Business is Power,” Trend reports.
The event is organized by the Small and Medium Business Development Agency (KOBIA) with support from the Ministry of Economy.
More than 300 business leaders, startups, representatives of business associations, members of parliament, and government officials attended the event. The program included speeches by officials, a panel discussion on “The Challenge for Small and Medium Enterprises (SMEs) in 2026,” and the awarding of the “Dayag” prize to 17 successful entrepreneurial entities of 2025.
Speaking at the event, Azerbaijani Minister of Labor and Social Protection Anar Aliyev stated that between 2018 and 2025, the wage fund in Azerbaijan increased by 3.2 times, including 3.6 times in the non-governmental sector.
"In 2018-2025, the number of employment contracts increased by 45 percent, or 595,000, with 92% of this growth accounted for by the private sector. During this period, the wage fund in the country grew 3.2 times, including 3.6 times in the non-state sector. To ensure active employment of the population and in response to the challenges of the modern labor market, the Employment Strategy of the Republic of Azerbaijan for 2019-2030, approved by the relevant decree of the head of state, forms the basis of long-term state policy in the field of employment, aimed at ensuring effective employment of the population," the minister said.
According to Aliyev, since the beginning of the reforms, more than 2.1 million people have been covered by active employment promotion measures.
“Of these, 823,000 people were employed, more than 54,000 people in 82 professional fields received vocational training, and 111,000 people were involved in the self-employment program,” he noted.
First Deputy Minister of Economy of Azerbaijan Elnur Aliyev, in turn, noted that from January to November of this year, more than 70 percent of Azerbaijan's industrial production came from the private sector.
"In the first eleven months of this year, the private sector accounted for more than 70 percent of our industrial production. Inclusive entrepreneurship is developing in the country, creating conditions for women's business initiatives. As a result, the number of women entrepreneurs has grown over the first nine months of this year, approaching 339,000," he said.
"Various incentives are being implemented for this purpose. Incubators and acceleration centers supported by the state and private sector operate, and startup certificates are issued, which provide tax incentives. In recent years, one of the main priorities of our state has been the restoration of liberated territories and the speedy return of our internally displaced persons to their native lands," Aliyev pointed out.
Established by KOBIA in 2022, the “Dayag” prize aims to highlight the achievements of entrepreneurs who form the backbone of the economy, promote a business-oriented mindset, and strengthen public-private cooperation. The award recognizes entrepreneurs’ contributions to sustainable development, innovative approaches, and social responsibility, serving both as a token of appreciation and as encouragement for businesses to pursue new initiatives and greater goals.
The ceremony underscores the government’s ongoing commitment to supporting entrepreneurship and fostering a dynamic business environment in Azerbaijan.
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