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Baku hosts "State-business partnership: basis of sustainable economy" conference

Baku hosts "State-business partnership: basis of sustainable economy" conference

A conference themed "State-business partnership: the basis of a sustainable economy" has been held at the Heydar Aliyev Center in Baku.

The conference is initiated by representatives of various business associations and entrepreneurs working in industries such as manufacturing, construction, agriculture, logistics, ICT, healthcare, insurance, tourism, textiles, and other sectors.

A movie highlighting Azerbaijan's accomplishments in diversifying its economy and fostering the growth of the private sector throughout the last two decades will be demonstrated at the event.

President of the National Confederation of Entrepreneurial Organizations (Employers) Mamed Musayev highlighted that, thanks to the extensive measures led by President Ilham Aliyev, a whole new phase of development has kicked off for the private sector. Relations between the government and business entities are broadening, with entrepreneurship thriving not only in the cities but also in various regions of the republic. Azerbaijani entrepreneurs are rolling out projects abroad. State support measures and forward-thinking new laws are really boosting the private sector's role in economic development. Innovative and priority projects, carried out through public-private partnerships, are ramping up economic efficiency.

At the end of the event, a statement was issued on behalf of conference participants, expressing full support for the political direction spearheaded by President Ilham Aliyev.

The statement particularly underscores that, thanks to President Ilham Aliyev's wise and forward-looking strategies for socio-economic development, following in the footsteps of the Great Leader Heydar Aliyev, the country's economic strength is growing, solidifying its reputation as a trustworthy partner each day. Despite global challenges, the nation maintains macroeconomic stability, diversifies its economy, and crafts a more favorable business and investment climate for the private sector. Entrepreneurs have truly become a driving force in the country's economy, earning high praise from international financial organizations.

Due to the development of partnerships between the government and entrepreneurs, improvements in legislation and administrative procedures in the entrepreneurial sphere, and the increased efficiency of mechanisms supporting entrepreneurship development in regions, along with the application of incentives, the non-governmental sector now makes up 86.5 percent of the country's economy and 78 percent of employment.

"Azerbaijani entrepreneurs, fueled by state support, proudly contribute their efforts to the revitalization of Karabakh and the 'Great Return'. They fully endorse the socio-economic policies led by President Ilham Aliyev and pledge to continue contributing to Azerbaijan's progress, taking on their responsibilities for the economic development tasks ahead," concludes the statement.



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