“A new economic development model is currently being implemented in our country,” said Azerbaijan’s Minister of Economy Mikayil Jabbarov during the event marking “Entrepreneurs’ Day” on the theme “Entrepreneurship Development Means a Strong Economy.”

The minister underlined that the development of entrepreneurship in the country has passed a crucial stage. He noted that the role of the private sector in GDP is increasing, while the main challenge for businesses is to enhance competitiveness.

He also stressed that state support for the private sector continues, adding that expanding export markets for entrepreneurs should remain a top priority.

The event, organized with the support of the Ministry of Economy, the Small and Medium Business Development Agency (KOBIA), and the National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan, brought together heads of relevant state agencies, representatives of business associations, and entrepreneurs operating across various sectors.