EFFECTIVE PROQRESSION TRENDS OF INDUSTRIALIZATION PROSESS IN AZERBAIJAN

Year 2018, Volume: 2 Issue: 2, 13 - 17, 03.01.2019

Mehriban Imanova

Abstract

The paper aims to investigate the specific features and areas of Azerbaijani industry, to learn possible ways of how to develop it. The up-to-date situation and growing inclinations of Azerbaijan industry have been studied in this research work. It has learned historical development of industry, examined current situation of separate fieldsto investigate the whole structure of industry, proposed suggestions to solve any problem and evaluated the guaranty of intentional state programs implemented by the government. The single-sided development of the industry of the country necessitatedacceleration of industrial productionof other economic regions.There is confirmed that the share of oil and gas extraction has been increased in the structure of industrial production in the article. Recent development trends in fuel and energy sectors have contributed to the boost of foreign trade relations.  Even though there has been a big progress in industry as a result of regional steady development policy, our country has a lot of potential opportunities with interminable natural resources and these opportunities should be turned to reality continually.  In order to advance the economic  development of Azerbaijan, the most substantial issue is to achieve active progress of the non-oil sector. Therefore industrial companies should be activated which`s reconstruction is considered economically advisable, modernization, promotion of investments, transition to international  norms, production of innovation-oriented outputs, and personnel training processes should be accelerated, measures to encourage creating competitive products by the government should be continued, free competation environment and conventional ownership must be evolved.  Having a strong effect on the country`s economic security, the development of Azerbaijan industry will scale up the state budget incomes, promote employment and stabilize trade balance. 

Keywords

Azerbaijan industry, non-oil sector, industrial enterprises, regional economic policy

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