On April 30, an event titled "Entrepreneurs Day: Export Perspectives of the Nakhchivan Autonomous Republic" was held in Nakhchivan.

On April 30, an event titled "Entrepreneurs' Day: Export Prospects of the Nakhchivan Autonomous Republic" was held in Nakhchivan. Participants first visited the monument of National Leader Heydar Aliyev in the central square of Nakhchivan city to pay their respects.

The event continued at the Business Center, where the memory of Heydar Aliyev and the martyrs was commemorated with a minute of silence.

Fuad Nagiyev, the authorized representative of the President of Azerbaijan in the Nakhchivan Autonomous Republic, noted that April 25 is celebrated as Entrepreneurs' Day in Azerbaijan each year, based on a presidential decree issued on April 21, 2016. He congratulated the entrepreneurs of the autonomous republic on this significant day and wished them success in their activities.

Nagiyev emphasized that under President Ilham Aliyev's leadership, systematic reforms are being implemented in the private sector. As a result, a healthy economic development model has been established in the country, macroeconomic stability has been achieved, and social welfare indicators have improved. For instance, the gross domestic product has increased from $7 billion in 2003 to $72 billion, foreign exchange reserves have grown from $1.6 billion to $69.5 billion, minimum wages have risen from 9 manats to 345 manats, and the poverty rate has decreased from 50% to 5%.

He stated, “Today, the development of the private sector, expansion of production, and enhancement of export potential are among the strategic priorities of the economy.” He highlighted that the "Azerbaijan 2030: National Priorities for Social and Economic Development" document identifies the formation of a "sustainable and competitive economy" as a primary goal. Currently, key principles for ensuring inclusive and private sector-led economic growth include successful collaboration between society, business, and the state, strengthening public-private partnerships, diversifying exports, creating a business-friendly state governance system, increasing the entry of local products into foreign markets, and further liberalizing trade regimes.

Nagiyev pointed out that among the opportunities created for entrepreneurial activities, institutional measures hold a special place. Over the past period, transparency in the judicial and legal system has been increased, unfair competition has been curbed, and the state tax and customs policy has been adapted to stimulate entrepreneurial activities.

He also noted that the "State Program for the Socio-Economic Development of the Nakhchivan Autonomous Republic for 2023-2027" identifies significant directions for the development of the private sector. The program outlines the creation of a favorable business environment, the application of tax, customs, social insurance, and other concessions for legal and natural persons, measures to attract local and foreign investments, expanding the scope of banking and insurance services, providing concessional loans to entrepreneurs, and implementing guarantees and other support mechanisms, as well as establishing free economic zones.

In preparation for the creation of a Free Economic Zone covering the entire territory of the Nakhchivan Autonomous Republic, relevant institutions have developed a concept and legal documents for the implementation of a special economic regime based on their feedback and proposals. Additionally, work is underway to establish a special customs regime that provides customs duty exemptions across the autonomous republic and to offer logistical support for exports.

Nagiyev emphasized that the first important aspect to consider in the development of entrepreneurship is the proper establishment of the export mechanism. While it is the entrepreneurs' responsibility to produce competitive products, the government's obligations include providing logistical support, customs and tax exemptions, and defining promotional methods and other related measures.

The third priority of the "State Program for the Socio-Economic Development of the Nakhchivan Autonomous Republic for 2023-2027" is also related to the "Creation of Export-Oriented Industry." Measures in this direction have already commenced, particularly focusing on establishing industrial parks, ensuring the functionality of the Sharur Industrial Estate, diversifying the geography of exports, and developing projects in export-oriented potential industrial sectors. This program will open up extensive opportunities for the development of the private sector in Nakhchivan.

The authorized representative noted that important tasks lie ahead. The state fulfills its commitments regarding the development of the private sector, and entrepreneurs must also contribute to this process, establishing a new development model based on state-private sector partnerships and achieving export-oriented production.

Fuad Nagiyev wished every entrepreneur success in this endeavor and invited them to actively participate in investment initiatives.

Abbas Ismayilov, the Deputy Minister of Economy and Acting Minister, highlighted the increasing positive trends in the dynamic development of the economy of the autonomous republic. He stated that in 2023, the total product output exceeded 1.55 billion manats. In the first quarter of 2024, the gross domestic product was 318.79 million manats, marking a 2.9% increase compared to the same period in 2023.

The Deputy Minister noted that in order to increase transparency in the economy of the autonomous republic, a soft transition has been implemented until March 2024, prioritizing soft power and minimizing tax oversight measures. Last year, the number of mobile tax inspections was reduced by up to nine times, and operational tax control measures decreased by more than four times. In addition, modern service centers meeting contemporary standards, providing electronic services offered by the tax authority, were opened in Nakhchivan city, as well as in Sharur and Ordubad districts. In 2023, the number of services provided by these centers increased 2.8 times compared to the same period in 2022, and in the first quarter of 2024, it grew by 2.7 times compared to the previous year. Revenues from privatization in 2023 reached 2.3 million manats, which is 2.5 times more than the same period in the previous year. In the first quarter of 2024, revenues increased 12.3 times compared to the previous year, and the number of privatized properties rose sixfold.

Abbas Ismayilov emphasized that one of the most important factors in the rapid development of entrepreneurship is financial accessibility. In 2023, the Entrepreneurship Development Fund of the Nakhchivan Autonomous Republic provided state financial support amounting to 6.2 million manats for the financing of 40 investment projects on preferential terms. Of this, 84.8% was directed toward the production of industrial goods, 11.7% to agriculture, and 3.5% to the services sector. In the first three months of 2024, compared to the same period last year, the number of financed projects increased by 33.3%, and the amount of concessional loans granted grew 2.5 times. Last year, the bank structures and credit organizations of the autonomous republic provided more than 130.4 million manats in loans to the real sector, which is 2.7 times more than the corresponding figure for 2022.

With state support, the participation of entrepreneurs in business forums, exhibitions, and conferences held in local and foreign countries has facilitated an increase in exports. In 2023, food industry, agricultural, construction, and furniture products produced in Nakhchivan were exported to nine countries. The number of certificates of origin issued in 2023 increased by 24.4% compared to 2022, and in the first quarter of 2024, this figure rose by 36% compared to the same period last year. Following these efforts, a working commission comprising representatives from the Nakhchivan Autonomous Republic's Ministry of Economy, Ministry of Agriculture, Food Safety Agency, the Ministry of Foreign Affairs of the Republic of Azerbaijan's Nakhchivan office, and the Nakhchivan Main Customs Department has been established to promptly resolve potential challenges in trade operations with the Republic of Turkey. Abbas Ismayilov conveyed the congratulations of Tamerlan Taghiyev, the trade representative of the Republic of Azerbaijan in Turkey.

Abbas Ismayilov extended his congratulations to the entrepreneurs on Entrepreneurs' Day, thanking them for their services to the development of the country and the autonomous republic, and wishing them success in their endeavors.

Vugar Abbasov, the chairman of the Nakhchivan Confederation of Entrepreneurs representing entrepreneurs in the Nakhchivan Autonomous Republic, also spoke at the event, discussing the measures taken for the development of entrepreneurship in the autonomous republic. He stated that the government is consistently implementing measures to develop the entrepreneurial environment and applying a continuous support mechanism. Entrepreneurs who utilize these opportunities make significant contributions to the economic progress achieved in the autonomous republic.

The event concluded with a screening of a film dedicated to Entrepreneurs' Day. It was noted that by the decree of the Chairman of the Supreme Assembly of the Nakhchivan Autonomous Republic dated April 26, 2024, several individuals—Sakhavat Humbatov, Namig Novruzov, Seyfeddin Rahimov, and Teymur Rzayev—were awarded the "For Outstanding Labor" medal for their effective activities in the field of entrepreneurship. The medals were presented to the honorees.

During the event, entrepreneurs' proposals were heard, their questions were answered, and their issues were recorded. Finally, presentations were made regarding the cross-border trade regime introduced by the Republic of Turkey, the preferential trade regime applied to the autonomous republic by Turkey, the export procedures for products produced in the autonomous republic, and the introduction of the newly launched website of the State Tax Service under the Ministry of Economy of the Nakhchivan Autonomous Republic.