In the framework of the XI Annual Investment Conference on the topic “Investments in sustainable innovations for a bright future” March 28 in Dubai in the Azerbaijani Pavilion at the exhibition Dubai Expo 2020 held a forum of small and medium-sized businesses Azerbaijan – UAE. At the conference Aystupil Minister of Labor and Social Protection of the Population of Azerbaijan Sakhil Babaev.
The press service of Mintruda reported that, speaking at the event, Sakhil Babayev spoke about social reforms implemented in Azerbaijan, the program of self-employment, activities of the Dost centers, the electronic purpose mechanisms of social benefits. The minister stressed that innovative achievements contributed to improving the quality and modernization of social services.
Sakhil Babayev noted that over the past three years, three packages of social reforms have been implemented in Azerbaijan by 6.5 billion manat per year (about 3.8 billion US dollars) who have half past the country’s population. The minister stressed that as a result of these reforms, social payments increased by 65 percent, the minimum pension rose 2.2 times, the average pension – by 60 percent, the minimum wage increased by 2.3 times, the annual wage fund increased more than two times.
Sakhil Babaev noted that over the past 5 years, with the support of the Self-employment program, more than 48 thousand families have created their farms and enterprises, bringing to this World Bank Program, the UN Development Program, various business structures made it possible to improve the success of this program.
Chairman of the Board of the Development Agency of Azerbaijan Azerbaijan Orhan Mamedov spoke about trade and economic relations between Azerbaijan and UAE, cooperation in the field of small and medium-sized businesses with the relevant departments of the UAE, the support provided by the Agency with local and foreign businessmen.
also at the forum, an entrepreneur, founder of the Azerbaijani organization of women entrepreneurs Tatiana Mikaailov, Head of the Office of International Relations of the Chamber of Commerce and Industry Dubai Omar Khan, Acting Foundation for Encouraging Exports and Investments in Azerbaijan (AZPROMO) Yusif Abdullayev.
Forum continued panel discussions about the prospects for joint business initiatives.