Azernews.Az

By Mirsaid Ibrahimzade

Development of the regions is one of the important directions in Azerbaijan’s economic policy, because the mainstay of agriculture are the regions. This sector plays a special role in the diversification of the economy, providing the population with food, the development of regions, reducing poverty, addressing social problems and other benefits.

Shahin Mustafayev, Azerbaijani Minister of Economy, stated at the meeting related to the country’s socio-economic sphere that present state of the regions of Azerbaijan is not the same as 15 years ago and there are significant positive changes.

He noted that the project aimed at raising the level of public services in the regions, improving the social infrastructure, yields significant results.

“In addition, its implementation is one of the important steps taken to provide employment in rural areas,” Mustafayev said.

Speaking about nine industrial parks and sites established in the regions where 78 residents have been registered, 45 of whom have already started their activities, he emphasized that 5.7 billion manats ($3.35 billion) from the planned 6.4 billion manats ($3.76 billion) has already been invested in the implementation of these projects.

Mustafayev also added that more than 11,000 new work places were opened.

“Thanks to the project, products worth 1.5 billion manats ($0.8 billion) were produced, of which imports amounted to 300 million manats ($176.47 million),” he said.

Currently, farmers receive large subsidies, they are provided with equipment and other means. Agro-parks created in the country are aimed at achieving revolutionary results in the development of the export potential.

Touching upon the work on the creation of agro parks and farms in the regions, he pointed out that 22 agro parks were established and 11 more are planned to be created by the end of the year.

“This will also open up more than 4,000 new jobs,” he said.

He said that until today, about 400 projects, which brought 3.4 billion manats ($2 billion) to the country's economy, have been implemented in the districts.

“The concessional loans worth 50 million manats ($29.41 million) were issued to entrepreneurs in January-June 2019,” Mustafayev noted. “The preferential loans in the amount of 120 million manats ($70.58 million) will be issued in the second half of the year.”

In general, Entrepreneurship Development Fund operating under the Ministry of Economy has issued concessional loans in the amount of 2.3 billion manats ($1.35 billion) so far.

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Mirsaid Ibrahimzade is AzerNews’ staff journalist, follow him on Twitter: @MirsaidIbrahim1

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