On May 16, 2023, held a scientific seminar in a hybrid form at the Institute of Economics of the Ministry of Science and Education. The event chaired by the executive director of the institute, D.Sc., professor Mushfiq Atakishiyev, and was attended online by a number of employees of higher education institutions
At the seminar, the leading researcher of the department of Business environment regulation and entrepreneurship development, Ph.D. in Economics, associate professor Mahir Zeynalov made a presentation on "Mechanisms of business promotion and tendencies of entrepreneurship development".
Speaking about the government's priorities for economic reforms, the speaker said that one of the main goals is to make small and medium-sized enterprises the main force of economic growth in the country, for this purpose, reforms are being carried out to improve the business environment and the state is constantly promoting the development of entrepreneurship in various economic ways.
Researcher made a speech on the provision of concessional loans to entrepreneurs by the Entrepreneurship Development Fund as incentive mechanisms, talked about the terms of loans, loans allocated by sectors of the economy and their economic results, main problems, loan interest subsidization, other incentive mechanisms for small and medium businesses, concessions and advantages given to entrepreneurs by investment promotion documents.
Noting the importance of the business promotion mechanisms provided for the "I State Program on the Great Return to the Territories Freed from Occupation of the Republic of Azerbaijan" and the 10-year tax concessions applied to those territories from January 1, 2023, based on the changes made to the Tax Code, for the construction of a new economy in Karabakh.
M. Zeynalov said that as a result of the economic reforms implemented in Azerbaijan in recent years, the improvement of the business environment and promotion mechanisms, with the development of entrepreneurship in the country, its role and weight in the economy has increased significantly. Thus, the share of the private sector in GDP increased to 83.5%, the number of individual entrepreneurs increased to 1.2 million, and 77.6% of employment is in the private sector. Speaking about the problems related to the development of entrepreneurship, the researcher noted suggestions for further improvement of business promotion mechanisms.
Then, answered the questions, and held extensive discussions on the topic (economics.com.az).
