Azerbaijan’s economy minister: Private sector needs to be involved in implementation of SDGs

It is extremely important to involve the private sector, along with the government sector, in activities to implement the Sustainable Development Goals (SDGs), Azerbaijani Economy Minister Mikayil Jabbarov said at the II Baku Forum on the topic “Sustainable Finance and Investment,” Report informs.

He noted that to this end, with the support of the country office of the UN Development Program, a number of measures have been taken for international and local investors, as well as for enterprises and startups with potential for impact: “At the same time, to attract investment in the SDGs, the SDG Investment Map and investment ecosystem research initiatives have been implemented.”

The minister added that various mechanisms of state support for the private sector are being introduced in Azerbaijan, the competitive environment is improving, administrative procedures are being simplified, tax incentives and subsidies are being introduced: “As a result of this, business activities in the country have acquired a wide scale. Azerbaijani businessmen are also actively participating in projects implemented in foreign countries, invest in various industries, are recognized as reliable partners. Currently, there are more than 683,000 people in the country actively engaged in entrepreneurial activities. The private sector’s share of GDP is 86.5%, in employment more than 78%. Strong private sector contributes to the implementation of competitive projects, the creation of new enterprises and jobs. This is also one of the very important areas of the sustainable development goals.”