Creating New Business Opportunities in the Regions

Changing of economic situation in the country regions due to the necessary measures taken in accordance with the “State Program on socio-economic development of regions of the Republic of Azerbaijan in years 2014-2018″ reduces difference between the capital and regions. The state programs carried out so far, resulted with increase in business activity of population, further expansion of entrepreneurship and realization of infrastructure projects in the regions. In particular, against a background of the recent fall in oil prices, implementation of new programs related to regional development will lead to development of agriculture, manufacturing and service sectors and further development of business activities in the regions.

For many years, flow of qualified personnel has continued to come from regions to Baku. However, the government has been putting a lot of effort to encourage and keep those skilled professionals and their contribution to social and economic development in the regions. In the present case, there is a great need to work with the private sector in this regard as well.

A number of considerable efforts on performing obligations in informing young people and personnel on opportunities created for them in the regions, preparing proposals on what can be done for them in new economic terms, as well as sharing experiences of business with people, also falls on the private sector.

As a person who has started his own own business in the region, I can guess what hardships young people may face in this regard. As opposed to people in Baku which is rich with opportunities for exchanging experiences, the young people in regions sometimes simply need an advice or a push in some cases.

Recommendations of experienced individuals which may lead young people, who want to realize their ideas, in solving problems regarding their projects, are very crucial. We are also preparing plans to take measures for performing our commitment in this regard. Initially, in order to support young people’s business initiatives, ‘Baku Business Factory’ established by me in May last year, has visited regions and launched business educating work, revealing potential business areas through examining them as well as preparing proposals on business activities which can be implemented and as a result, developing new methods of export capacity formation of new businesses and enterprises which already exist. We are not alone in this case, since we try to achieve more effective results by cooperating with both government agencies and private companies, as well sectoral experts.

I am confident that ‘Baku Business Factory’ will successfully realize projects by cooperating with young people and qualified personnel in regions. Nevertheless, the greatest burden in this regard falls on young people in regions. Our target is to work with those, who have chosen a difficult path and decided to stay in their region and make significant contributions to socio-economic development of their hometown. I believe that some of these young people will be among those who have achieved great success a decade later.

I would like to remind that ‘Baku Business Factory’ established by me in May 2015, is a business incubation center, which was founded in order to support business initiatives of young people and teach them business. Currently, 15 different business projects are implemented in the center.

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