MP: Reforms aimed at developing of non-oil sector are successful

By Sara Israfilbayova

The economic indicators of the first quarter of 2017 clearly demonstrate that the reforms carried out in the non-oil sphere are very effective.

The deputy of the Milli Mejlis [Parliament] of Azerbaijan Kamran Nabizade made the remark while talking to Day.Az, further mentioning that the non-oil sector grew by 2.4 percent, non-oil industry by 2 percent and agricultural sector by 3.5 percent during this period.

Azerbaijan is willing to minimize dependence of the economy on the oil revenues and several programs have been implemented for the non-oil sector development, economic liberalization, small and medium business support, development of the regions.

Agriculture, tourism, information and communication technologies, processing industry are considered to be basic priority areas in the development of non-oil sector in Azerbaijan.

Nabizade further noted that the industrial potential of the country is strengthening with operation of several industrial parks.

Modern factories operate in the territory of industrial parks, he said , noting that this allows not only to open new jobs, but also to strengthen the export potential of Azerbaijan.

Today, the work is underway in Azerbaijan to attract more residents to the Sumgait Chemical Industrial Park, Balakhani, Garadagh, Mingachevir and Pirallahi industrial parks, Mingachevir High Tech Park, Sumgait Technologies Park, as well as in Neftchala and Masalli industrial districts.

Residents of Azerbaijan’s industrial parks are exempt from real estate, land, profit taxes, as well as value-added tax on import of equipment for a period of seven years.

Main objective of the establishment such parks in the country are the creation of favorable conditions in the country for further development of industrial production, provision of support to entrepreneurs, and increasing employment of population in the sphere.