17:17 - 5.01.2022

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January 5, Fineko/abc.az. "The only way to minimize the impact of price increases in the future is to form a complete value chain in food production across the country," ABC.AZ reports citing Economy Minister Mikail Jabbarov.

According to the minister, there are favorable opportunities for the creation of import-substituting industries for products that depend on imported components.

"Increasing the effectiveness of the mechanism of state support for the development of small and medium-sized businesses will lead to an even greater increase in the share of participation in the employment of these business entities, especially young entrepreneurs. One of Government’s main goals in the coming period is the rapid development of the processing industry, which creates high added value. Taking into account the specifics of the regions, it is planned to deepen specialization in the production and processing of products. In the regions we are planning to accelerate the reconstruction and privatization of non-operating or unprofitable production enterprises. In general, investment incentive mechanisms will be widely used for the development of the sectors of production of products and services,” the minister stated.