Foreign investors’ interest in the country shows the development of a liberal economy and free entrepreneurship in the country (ANALYTICS)
The modern system of free trade, free entrepreneurship, and market-based economies was formed about 200 years ago.
The mentioned field has been identified as a priority direction in Azerbaijan – a country that has become an active and important actor in international economic relations. After the country regained its independence, the issues of forming a liberal economic system based on market relations, creating conditions for economic freedom and entrepreneurship of citizens, efficient use of rich natural resources, and increasing investment attractiveness came to the fore.
In order to revive the economy in Azerbaijan, it was important to take certain steps. Therefore, it was considered the most important issue to focus on creating certain conditions for entrepreneurs in the country. This issue began to be gradually resolved with the return of national leader Heydar Aliyev to political power for the second time in 1993. Thus, in order to strengthen the country's economy, fundamental reforms were carried out, and a purposeful policy was implemented in the direction of promoting free entrepreneurship and a liberal economy. Building a free market economy and a competitive business environment formed the main line of the country's policy.
State programs for the socio-economic development of not only large cities but also regions were prepared in the country. In the implementation of these programs, special importance is given to strengthening local entrepreneurship. In order to expand the activity of entrepreneurs, the financial support of the state, as well as the allocation of subsidies, accelerates the development of the private sector and increases its capacity in the general economy.
A favorable business and investment environment has been created for the development of the private sector, small and medium-sized enterprises, ensuring the socio-economic development of Azerbaijan. In order to achieve strong development of the non-oil sector, efforts were made to attract domestic and foreign investments.
One of the most necessary conditions for ensuring the comprehensive and efficient development of the non-oil sector is the development of free entrepreneurship and the increasing efficiency of small and medium-sized business activities.
The liberal economy in Azerbaijan has a serious impact on the creation of a competitive environment. When it comes to a liberal market economy, competition and ensuring a competitive environment is the first thing that attracts everyone's attention. A competitive environment means equal use of possible conditions and opportunities without monopoly.
President of Azerbaijan Ilham Aliyev has signed a number of decrees regarding the further strengthening of the protection of the rights of entrepreneurs.
The Decree of President Ilham Aliyev on marking April 25 every year as "Entrepreneurs' Day" in the country dated April 21 13, 2016 can be shown as an example. Taking into account the growing role of entrepreneurs in the economy of the country, and the exceptional importance of the development of entrepreneurship in providing employment, with the aim of increasing the spirit of support for entrepreneurship in society this decree was signed.
Simplification of requirements for entrepreneurial activity, and organization of certification in a simplified manner based on the principle of "one window" is proof of the effective organization of the business environment in the country.
Azerbaijan's position in the world economic rankings is getting stronger, and thanks to this, investors' interest in the country is increasing. This proves that the development of a liberal economy and free entrepreneurship in the country is progressing in a positive direction.
Analytic group of News.Az
The article focuses on promoting free entrepreneurship and a liberal economy
The article was published with the support of the Media Development Agency of the Republic of Azerbaijan (MEDIA)