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Monday, 17 April 2017 14:00

President: Investments at the amount of 1.250 bln manats to be made

President: Investments at the amount of 1.250 bln manats to be made

“Resolutions and laws passed last year, orders and decrees signed by me created good opportunities for much broader diversification of our economy. In particular, measures taken in the non-oil sector are already yielding good results”, President of the Republic of Azerbaijan Ilham Aliyev stated on April 17 in the course of the Republican conference of non-oil exporters in Yevlakh, Caspian Energy News ( reports with reference to the press service of the President of Azerbaijan.

“We have started applying an incentive system. I spoke about it in previous years as well. The incentive scheme turned out effective and led to a rapid growth of export in several countries. We have studied the most advanced world experience and begun applying systems of investment and export stimulation in Azerbaijan. Both mechanisms have already been launched and implemented successfully. Perhaps entrepreneurs did not at first believe that the state would provide this privilege to them. They were surprised in some cases. However, now they see that if anyone produces export-oriented products and supplies to the world markets, the state is returning them a certain percentage of the cost of this product. That is to say, it is an initiative providing a very big stimulation. An entrepreneur gets an additional economic income from it. In the meantime, I think it also bears a moral significance. The more is the belief of an entrepreneur the more confident he become in doing his work and attracting investments into our country”, President Ilham Aliyev said.

The head of state noted that entrepreneurs have been investing and will invest 1 bln 250 mln manats into the economy within the framework of the investment promotion scheme.

Minister of Economy Shahin Mustafayev, Chairman of the Association of Producers and Exports of Wine Elchin Madatov, Chairman of the Association of Producers and Exporters of Hazelnuts Ismayil Orujov, General Executive Director of Azersum Holding LLC Savas Uzan, Director of Az-Granata LLC Rovshan Farkhadov and business-incubator participant Ariz Mikaylov also addressed the conference. 

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Person in charge of the newsline: Jeyhun Bayramov 

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