The Ministry of Economy of Azerbaijan Republic is the central executive body implementing state policy and regulation in the areas of economical policy of Republic, development of various sectors of the economy, including development of entrepreneurship, structural and innovation in the national economy, investment activities, attraction of investments, investing and promotion, elimination of unfair competition, entrepreneurship development, state support for entrepreneurship, protection of competition, consumer rights protection, domestic trade, foreign economic and trade relations, socio-economic development of the regions and housing and communal services. The ministry is headed by Shahin Mustafayev.
History
In 1918-1920, the first Ministry of Commerce and Industry of Azerbaijan functioned in the government of Azerbaijan Democratic Republic. In the Soviet Socialist Republic of Azerbaijan, which was a part of the USSR in 1920-1991, economic issues were regulated by such committees as the Ministry of Commerce, Industry and Food, the Ministry of Trade and Industry, and the State Planning Committee of the USSR. State Property Committee, Ministry of Economy, Ministry of Trade, State Committee for Antimonopoly Policy and Entrepreneurial Assistance and Foreign Investments Agency were abolished and The Ministry of Economic Development was established on the basis of these bodies according to the Decree of the President of Azerbaijan Republic on April 30, 2001. The Ministry of Economy and Industry of Azerbaijan was to be established on the basis of the Ministry of Economic Development according to the Order of the President of Azerbaijan on establishing the Ministry of Economy and Industry dated October 22, 2013. By the Order of the President of Azerbaijan dated January 15, 2016, the Ministry of Economy of Azerbaijan was established on the basis of the Ministry of Economy and Industry of the Republic. On October 23, 2019 the new structure of the Ministry of Economy of the Republic of Azerbaijan was approved.
Directions of activities of the Ministry
The Ministry carries out activities in the areas defined by the Regulations on the Ministry of Economy of Azerbaijan.
Structure
The new structure of the Ministry was approved by the Decree of the President of Azerbaijan on October 23, 2019.
Bodies under the Ministry of Ministry
Entrepreneurship Development Fund of the Republic of Azerbaijan Small and Medium-sized EnterprisesDevelopment Agency “Consumer Goods Expertise Center” LLC “Baku Business Center” LLC Institute for Scientific Research on Economic Reforms
Bodies founded by the Ministry of Economy
The Azerbaijan Export and Investment Promotion Foundation
“Azerlotereya” OJSC
“Azerbaijan Investment Company” OJSC
“Clean City” OJSC
“AzerGold” OJSC
“Azerkhalcha” OJSC
The State Program on Economic development
State Program on the socio-economic development of regions of Azerbaijan Republic in 2019-2023
State Program on the socio-economic development of regions of Azerbaijan Republic in 2014-2018
State Program on socio-economic development of Baku city and its settlements in 2014–2016 years
State Program on socio-economic development of Baku city and its settlements in 2011–2013 years
State Program on socio-economic development of regions of the Republic of Azerbaijan for 2009–2013 years
State Program on Poverty Reduction and Sustainable Development in the Republic of Azerbaijan for 2008-2015
State Program on the reliable food supply of population in the Azerbaijan Republic in 2008-2015
State Program for the development of industry in Azerbaijan in 2015-2020
Responsibilities
The responsibilities of ministry include:
Defining certain strategies that show exact paths and directions leads the social and economic development of the country, preparing economic programs and monitoring their implementation;
Taking into account the relevant analysis of the economic circumstances of the country and providing appropriate methods in order to regulate the social and economic activities;
Maintaining the links between central and local executive authorities for realizing economic reforms;
For the purpose of establishing economic cooperation with international and regional financial organizations including taking certain measures in order to develop more efficient foreign economic relations according to the state policy in this field;
Checking the implementation of state policy on trade;
Controlling structural and investment policy in the Republic of Azerbaijan is carried out accordingly;
Determining the ways that regional economic policy is implemented;
Monitoring the implementations of directions that designed to promote the development of entrepreneurship;
Ensuring the state policy in privatization and controlling of state property, implementing disposal of state property;
Restraining and eliminating monopolies and ensuring fair competition among economic bodies, carrying out of measures determined by legislation that aimed to guarantee consumer protection;
Implementation of other responsibilities according to the legislation of the Republic of Azerbaijan.
Achievements
The following goals have been achieved by the Ministry during its functioning period:
Strengthened the fight against artificial price increases;
Created a “hot line” for grain producers;
Produced a catalog "Made in Azerbaijan", covering 10 areas of industry;
Prepared proposals for the restoration of the affected areas of Azerbaijan from the occupation of Armenia;
Started issuing licenses in electronic form;
It has supported entrepreneurship, investment in the real sector and the preservation of a stable manat rate.
