BAKU, Azerbaijan, April 29. The role of the private sector in Azerbaijan’s gross domestic product continues to grow steadily year by year, Mikayil Jabbarov, Azerbaijan’s Minister of Economy, said during an event held in Baku under the theme “Entrepreneurship Development is a Strong Economy,” Trend reports.
“The resources available within the private sector are not unlimited. Ensuring balanced and efficient access to these resources for entrepreneurs remains at the center of our attention,” the minister said.
Jabbarov noted that state support for the private sector continues and will be expanded.
According to the minister, this support includes special industrial zones, tax and other payment incentives in liberated territories, social benefit preferences, utility support mechanisms, and loan interest rate subsidies.
"These instruments have already proven their appeal and will continue to be developed. Furthermore, the role of the Nakhchivan Autonomous Republic in the country's economy is projected to grow and further strengthen in the future. We believe that the opening of the Zangezur Corridor will make a significant contribution to the country's economic development in this regard," he said.
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