A meeting on “The role of entrepreneurship in economic development” was held
On May 26, the Azerbaijan Entrepreneurs Confederation organized a meeting of the Executive Director of the Center for Economic Reforms Analysis and Communication Vusal Gasimli with entrepreneurs. About 100 entrepreneurs joined the meeting on “The role of entrepreneurship in economic development” and discussed the current business environment in the country, listened to their concerns.
Evaluating the meeting as an example of public-private dialogue, Vusal Gasimli said that the economic recession caused by the COVID-19 pandemic in Azerbaijan has stopped and economic growth will be restored by the middle of the year: In the first four months of this year, the non-oil industry grew by 16.5 per cent, agriculture by 2.3 per cent, retail trade by 0.1 per cent and information and communication services by 3.8 per cent. In the next period, efforts in tourism, transport, catering, and construction and other areas are also being made to restore economic growth. The work carried out in Azerbaijan to improve fiscal and monetary policy, business environment, access to foreign markets, human capital development, corporate governance, access to finance, public procurement, simplification of tax and customs administration is aimed at accelerating economic growth. The perspective of liberating Karabakh from occupation and opening regional communications has created additional opportunities for our economic development. Public-private dialogue is important for continuous identification of the main challenges of the economy and cooperation in solving problems. The organization of entrepreneurs, the formation of a new business model and business culture, the application of digital solutions and the principles of green growth play an important role in economic development.
President of the Azerbaijan Entrepreneurs Confederation Mammad Musayev said that the favourable business environment created under the leadership of President Ilham Aliyev is the basis for the rapid development of entrepreneurship: “Especially after the liberation of Azerbaijani lands, it is a great honour to participate in economic development as the owner of the victorious country.” Musayev touched upon the opportunities for organizing entrepreneurs, increasing financial accessibility in the development of regions, increasing the competitiveness of financial institutions, expanding financial instruments, replacing some imported products with local production. Giving information about the opportunities of using the existing platforms of the Confederation of Entrepreneurs of Azerbaijan for public-private dialogue, Musayev noted the contribution of the development of business organizations to the overall economic progress.
Khagan Hummatzadeh, head of the Legal and Social Partnership Department of the Confederation of Entrepreneurs of Azerbaijan, stressed the need for strong regional and business associations, and that bilateral platforms work more constructively in public-private partnerships.
In his letters to the Confederation, Hummatzadeh said that the “Tax Code”, customs procedures, especially VAT differentiation, and the cost of production in production-oriented enterprises are at the forefront.
Vice President of the Azerbaijan Entrepreneurs’ Confederation Vugar Abbasov briefed on the activities of bilateral cooperation platforms. He briefed the participants on the issues discussed at the Cooperation Council between the State Customs Committee and the ASK, as well as the results of recent monitoring. “93% of the 214 respondents involved in the monitoring were engaged in imports. This shows that import operations are still high. Of course, it is easier to trade the finished product. Therefore, support should be given to companies engaged in production, “Abbasov said.
Chairman of the Azerbaijan Confederation of Entrepreneurs Confederation for Tourism and Services Ruslan Guliyev spoke on tourism, ASK Vice President Jala Hajiyeva on “Financial accessibility of business entities”, ASK Commission on Innovations and Digital Technologies Elchin Aliyev on “The role of Azerbaijani business in innovation development”.
Then, discussions and a question-and-answer session were moderated by ASK Vice President Vugar Zeynalov. Sakina Babayeva, Chairman of the Azerbaijan Entrepreneurship Development Association, Javanshir Abdullayev, Director of the Bank Training Center, Arif Hasanov, Director of Neon, Telman Abbasov, Representative of TITAN Group, Samir Novruzlu, Chairman of the Azerbaijan Quality Association, Rashid Chulagov, Director of TUNA LLC, Ruslan Atakishiyev, Chairman of the Public Union, sounded their suggestions about the favorable business environment in the country, the contribution of entrepreneurship to economic development, Islamic banking, competition mechanism, SME development, tax and customs legislation, state support for business, international relations, industrial parks, public-private partnership, business development in the regions.
In the end, it was decided that the Center for Economic Reforms Analysis and Communication and the Confederation of Entrepreneurs of Azerbaijan will continue to organize these meetings to discuss specific issues and prepare relevant proposals.