Branches of banks and companies to open in Nakhchivan

12:44 - 10.02.2023

February 10, Fineko/abc.az. Within the visit of the delegation of representatives of state organizations and entrepreneurs, headed by Economy Minister Mikail Jabbarov, a meeting was held on the topic "Entrepreneurship Development in Nakhchivan: Challenges & Prospects".

The Ministry of Economy informs that when delivering speech at the event, Azerbaijani President’s Plenipotentiary Representative in the Nakhchivan Autonomous Republic Fuad Najafli noted that the socio-economic reforms implemented under the leadership of the head of state formed the foundation for a new stage of development of Nakhchivan. The priorities in this context are improving governance, ensuring transparency, efficient use of economic resources and development of the private sector.

Jabbarov stressed that in order to ensure sustainable, stable economic development and improve the welfare of the population, it is planned to implement steps for the effective use of rich resources in the fields of mining, tourism, transport and logistics, trade, human potential, business development in accordance with modern requirements, increasing the export potential of the region and other activities.

The importance of opening branches of financial organizations in Nakhchivan, expanding the scope of preferential lending, guarantees and other support mechanisms, creating conditions for entrepreneurs to use benefits and privileges, establishing their cooperation with the Agency for the Development of Small & Medium-sized Businesses, AZPROMO and other organizations, as well as other measures aimed at development and improvement was highlighted. In this direction, it is important to organize joint and coordinated work of profile organizations.

The opening of the Zangezur corridor will contribute to transformation of Nakhchivan into a significant transport hub and, in general, will create conditions for increasing the role of Azerbaijan as an international logistics center.

Within the trip, a visit to the Nakhchivan Business Center exhibition salon took place, as well as familiarization with the activities of a number of manufacturing enterprises.