State service chief says competition should be increased for further development of Azerbaijan's economy

The only way to ensure economic stability in Azerbaijan is to form a highly competitive economy, Mammad Abbasbayli, head of the State Service for Antimonopoly and Consumer Market Control under the Ministry of Economy, said at the Summit of Supply Chain Leaders, Report informs.

Abbasbayli noted that it is possible to promote entrepreneurship by forming a competitive environment: "The state of Azerbaijan has taken important steps in this direction. Thus, the Competition Code has been adopted in our country, important steps are being taken in the direction of improving the business environment and transparency. Competition is an important factor to turn Azerbaijan's economy into a world-class economy and to ensure that small companies reach the level of major companies."