Ministry of Economy (Azerbaijan)

The Ministry of Economy of Azerbaijan Republic (Azerbaijani: Azərbaycan Respublikası İqtisadiyyat Nazirliyi) 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.[1][2]

Ministry of Economy of Azerbaijan Republic
Azərbaycan Respublikası İqtisadiyyat Nazirliyi
Coat of arms of Azerbaijan
Agency overview
FormedApril 30, 2001
Headquarters23 Niyazi Street, Baku, Azerbaijan Republic AZ1066
Agency executives
  • Mikayil Jabbarov , Minister of Economy
  • Sevinj Hasanova, Deputy Minister
  • Niyazi Safarov, Deputy Minister
  • Elnur Aliyev, Deputy Minister
  • Sahib Alakbarov, Deputy Minister
  • Rovshan Najaf, Deputy Minister
  • Ayaz Aliyev, Head of Administration
Websitewww.economy.gov.az

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.[3]

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.[4]

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.[5]

On October 23, 2019 the new structure of the Ministry of Economy of the Republic of Azerbaijan was approved.[6]

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.[3]

Structure

The new structure of the Ministry was approved by the Decree of the President of Azerbaijan on October 23, 2019.[6]

Bodies under the Ministry of Ministry

“Sumgayit Chemical Industrial Park” LLC [7]

Entrepreneurship Development Fund of the Republic of Azerbaijan [8]

Small and Medium-sized Enterprises Development Agency (Azerbaijan) [9]

“Consumer Goods Expertise Center” LLC [10]

“Baku Business Center” LLC [11]

Institute for Scientific Research on Economic Reforms [12]

Bodies founded by the Ministry of Economy
  • The Azerbaijan Export and Investment Promotion Foundation (AZPROMO) [13]
  • “Azerlotereya” OJSC [14]
  • “Azerbaijan Investment Company” OJSC [15]
  • “Clean City” OJSC [16]
  • “AzerGold” OJSC [17]
  • “Azerkhalcha” OJSC [18]

The State Program on Economic development
  • State Program on the socio-economic development of regions of Azerbaijan Republic in 2019-2023 [19]
  • State Program on the socio-economic development of regions of Azerbaijan Republic in 2014-2018 [20]
  • State Program on socio-economic development of Baku city and its settlements in 2014–2016 years [21]
  • State Program on socio-economic development of Baku city and its settlements in 2011–2013 years [22]
  • State Program on socio-economic development of regions of the Republic of Azerbaijan for 2009–2013 years [23]
  • State Program on Poverty Reduction and Sustainable Development (SPPRSD) in the Republic of Azerbaijan for 2008-2015 [24]
  • State Program on the reliable food supply of population in the Azerbaijan Republic in 2008-2015 [25]
  • State Program for the development of industry in Azerbaijan in 2015-2020 [26]

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.[27]

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.[28]

List of Ministers of Economy
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See also

References
  1. "International Relations and Security Network. Ministry of Economic Development of the Republic of Azerbaijan". Retrieved 2010-11-02.
  2. "CIA. Chiefs of State and Cabinet Members of Foreign Governments". Archived from the original on 2010-05-28. Retrieved 2010-11-02.
  3. "The decree of the president of the Republic of Azerbaijan on the establishment of the Ministry of Economic Development of the Republic of Azerbaijan".
  4. "Order of the President of the Republic of Azerbaijan on the establishment of the Ministry of Economy and Industry of the Republic of Azerbaijan".
  5. "Azərbaycan Respublikası İqtisadiyyat və Sənaye Nazirliyinin adının dəyişdirilməsi haqqında AZƏRBAYCAN RESPUBLİKASI PREZİDENTİNİN SƏRƏNCAMI".
  6. "Azərbaycan Respublikasının İqtisadiyyat Nazirliyinin funksiyalarının və strukturunun genişləndirilməsi haqqında AZƏRBAYCAN RESPUBLİKASI PREZİDENTİNİN FƏRMANI".
  7. "SCIP".
  8. "The Entrepreneurship Development Fund".
  9. "Azərbaycan Respublikasının Kiçik və Orta Biznesin İnkişafı Agentliyi (KOBİA)".
  10. "Consumer Goods Expertise Center Limited Liability Company".
  11. "Baku Business Center (BBC)".
  12. "Institute for Scientific Research on Economic Reforms".
  13. "The Azerbaijan Export and Investment Promotion Foundation (AZPROMO)".
  14. ""Azerlotereya" OJSC".
  15. ""Azerbaijan Investment Company" OJSC".
  16. "Clean City OJSC".
  17. "AzerGold OJSC".
  18. "Azerkhalcha OJSC".
  19. "State Program on the socio-economic development of regions of Azerbaijan Republic in 2019-2023".
  20. "State Program on the socio-economic development of regions of Azerbaijan Republic in 2014-2018".
  21. "State Program on socio-economic development of Baku city and its settlements in 2014-2016 years".
  22. "State Program on socio-economic development of Baku city and its settlements in 2011-2013 years".
  23. "State Program on socio-economic development of regions of the Republic of Azerbaijan for 2009-2013 years".
  24. "State Program on Poverty Reduction and Sustainable Development (SPPRSD) in the Republic of Azerbaijan for 2008-2015".
  25. "State Program on the reliable food supply of population in the Azerbaijan Republic in 2008-2015".
  26. "State Program for the development of industry in Azerbaijan in 2015-2020" (PDF).
  27. "Azərbaycan Respublikasının İqtisadiyyat və Sənaye Nazirliyi yanında Antiinhisar Siyasəti və İstehlakçıların Hüquqlarının Müdafiəsi Dövlət Xidmətinin fəaliyyətinin təmin edilməsi haqqında AZƏRBAYCAN RESPUBLİKASI PREZİDENTİNİN FƏRMANI".
  28. "The Republic of Azerbaijan. Ministry of Economy".
  29. "Heydar Babayev is appointed on the post of the Minister of Economical Development". Baku: Today.az. 2005-10-19. Retrieved 2010-11-02.
  30. "M.Ç.Cabbarovun Azərbaycan Respublikasının İqtisadiyyat naziri təyin edilməsi haqqında Azərbaycan Respublikası Prezidentinin Sərəncamı".
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