Meeting of Nakhchivan Confederation of entrepreneurs

A meeting of the Confederation of entrepreneurs of the Nakhchivan Autonomous Republic dedicated to the work done in 2023 and the forthcoming tasks in 2024 was held at the Nakhchivan Business Center. Speaking at the meeting, the chairman of the confederation, Vugar Abbasov, said that the continuation of measures to expand the investment flow to the Autonomous Republic and holding meetings with official representatives and businessmen of foreign countries for this purpose are kept in mind. Last year, for this purpose, a delegation led by the head and representatives of the Commonwealth of Independent States (CIS) and Asian countries department of “FAW Group Corporation” and the president of the Japanese investment company “Tet International Development” LLC, a member of the Azerbaijan Confederation of Entrepreneurs, visited Nakhchivan. Business trips have created favorable conditions for these companies to become more familiar with the business and investment opportunities of the Autonomous Republic.

It was emphasized that over the last 4 years, Azerbaijan Confederation of Entrepreneurs and Nakhchivan Confederation of Entrepreneurs strengthened economic cooperation relations with foreign countries and signed successful projects. At the business forum held in Istanbul, during the meetings organized in Hungary and other countries, discussions were held on trade, small and medium business, investment, transit transportation, expansion of economic cooperation, as well as agriculture, food industry, health, discussions on information and communication were held, the questions of the participants were answered.

Vugar Abbasov brought to the attention that according to the “state program on the socio-economic development of the Nakhchivan Autonomous Republic for 2023-2027”, the transformation of our land into a free economic zone is one of the important goals. For this purpose, it is planned to apply a special economic regime in Nakhchivan. In November of the last year, a discussion of the work to be done in this area was held with the participation of the board of directors and related entrepreneurs. At the event organized by the Confederation of Nakhchivan Entrepreneurs, it was noted that the reforms implemented in all areas in order to ensure the sustainable development of the country necessitate the start of a new stage in the development of the autonomous republic’s economy. In particular, preparations for the implementation of the special economic regime in the territory of the Nakhchivan Autonomous Republic bring to the fore the implementation of various measures in this area. During the discussion, it was accepted that by creating a sustainable entrepreneurship and investment environment in the Nakhchivan economic region, attracting foreign and local investments, forming a mechanism of special concessions and privileges to increase the efficiency of the economy, developing the green economy, achieving diversified export potential, opening new jobs and measures implemented in other directions will open wide opportunities for the application of a special economic regime.

At the meeting, the considered issue in the implementation of the Action Plan officially agreed by the Cabinet of Ministers of the Nakhchivan Autonomous Republic for the 100th anniversary of the Nakhchivan Autonomous Republic was included in the 2024 work plan and approved.

Then discussions were held and suggestions were heard.