On October 24, 2022, held the next online scientific seminar at the Institute of Economics. The event chaired by the director general of the institute, D.Sc., professor Nazim Muzaffarli (Imanov), attended by a number of employees of higher education institutions
The seminar was attended by Professor Rena Sultanova, Head of the Department of "Regional Development and Utilization Problems of Natural Resources" of the Institute of Economics, and Head of the Education Department, Ph.D. in Economics, Ellada Khankishiyeva made a presentation dedicated to the results of the study on "Index of socio-economic development of economic and administrative regions of Azerbaijan - 2019". The speakers said that during the studies, 3 sub-indices of economic development, social development and infrastructure development were used during calculation the socio-economic development index of the economic and administrative regions of Azerbaijan. Rated cities and regions, economic regions and ranked according to all 3 sub-indexes. According to the results of the generalized socio-economic development index - 2019, the cities of Nakhchivan, Naftalan and Sumgait, Sharur, Shahbuz, Gakh, Goranboy, Barda, Khizi regions and the city of Sheki included to the top ten.
In the ranking of economic regions according to the Socio-Economic Development index, Nakhchivan AR is on the first place. Absheron, Ganja-Gazakh, Aran, Guba-Khachmaz, Sheki-Zagatala, Nagorno-Shirvan, Lankaran economic regions come next. The top five cities in the ranking include Nakhchivan, Naftalan, Sumgait, Sheki and Mingachevir.
Researchers believe that the uneven development of the country's regions, the existence of differences between them, has an impact on the provision of socio-economic development as a whole. Therefore, in order to further increase the economic activity in the regions, the existing labor force and all resources should be fully involved in the economic cycle. Balanced development of regions should be accompanied by people's access to quality economic opportunities and physical infrastructure. Regions should have comparable living standards to the capital. This will increase the share of the regions in the national income.
Then, held extensive discussions on the topic at the seminar, and answered questions (economics.com.az).
