Deputy minister: Billions allocated for entrepreneurship support in Azerbaijan

  28 February 2019    Read: 1243
  Deputy minister: Billions allocated for entrepreneurship support in Azerbaijan

Over the past 15 years, more than 35,000 business entities in Azerbaijan have obtained preferential loans worth 2.2 billion manats, Azerbaijani Deputy Minister of Economy Sahib Mammadov told reporters in Baku on Feb. 28, AzVision.az reports citing Trend. 

“The loans worth 1.2 billion manats were issued through the previously returned funds,” he added. "This shows that investments in the real sector are yielding results."

Mammadov stressed that presently, the share of the private sector in the country's GDP exceeds 80 percent, while this figure is 76 percent in the sphere of employment.

"As of January 1, 2019, the number of registered business entities in the country exceeded 970,000,” he added.

"Speaking of institutional reforms, the establishment of the Agency for Development of Small and Medium-Sized Enterprises in Azerbaijan should be stressed,” Mammadov said. “Its main goal is to support promising projects and the development of relations with partners."


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