One characteristic of Azerbaijan, which in terms of economic development occupies one of the leading positions in the world, is that this progress covers not only the capital, but each region of the country.
This was stated by Minister of Taxes Fazil Mammadov at the Cabinet meeting, chaired by President Ilham Aliyev, on the results of the socio-economic development of the country in the first quarter of 2014 and challenges ahead.
According to him, over 10 years of execution of two national programs for the development of the regions, the number of registered business entities increased by 7.2 times, while tax revenues have grown more than 12.7 times.
«The increase in tax revenues in the cities and regions of the country has created the conditions so that cities like Sumgayit, Shirvan, Mingachevir, Absheron and Imishli fully provide their own costs through local revenues,» said Mammadov.
The Minister noted that «State Program on social-economic development of the Republic of Azerbaijan in 2014-2018 years» and «State Program on socio-economic development of Baku and its settlements in 2014-2016 years» approved by the head of state will be a continuation of a deliberate policy on the comprehensive development all regions of Azerbaijan.
«In addition, they play an important role in opening up new businesses and jobs and implementing major infrastructure projects,» he said.
Mammadov said that in the first quarter of this year alone, about 100 industrial, agricultural, commercial enterprises and services began to operate in the regions, and about 500 more companies are being established.