Speaking at the meeting Azerbaijani President Ilham Aliyev reminded that the first State Program of socio-economic development was adopted in 2004 and covered 2004-2008.

The Head of State noted that the adoption of the program played an important role in the development of the country, have done a great creative work in the regions, opened hundreds of thousands of new jobs. “Created new industrial enterprises. In short, the development and revitalization of the regions was directly related specifically to the adoption of this program. I would also note that in 2004-2008 the program was amended, added, because our dynamic development was measured at very high rates. In those years, GDP growth in the average stood at more than 20 percent. In this case, the budgets of additional revenue, of course, influenced the amendments that made to the program. In general, I can say that the program, covering 2004-2008, has been fully implemented. As a result of its implementation undertaken by large and successful steps in the development of our country and the diversification of the economy”, – President Aliyev said.

The President stressed that has also been successfully implemented and the program covering 2009-2013 years. “2009-2010 will remain in history as a period of financial and economic crisis. Despite this, Azerbaijan’s economy grew in the years that has special significance. Over the past two years, Azerbaijan’s economy grew by 15%. I can say that such growth was possible due to the implementation of the adopted programs of socio-economic development of regions”, – the President said.

Ilham Aliyev noted that special attention is paid to the development of non-oil sector. President Aliyev stressed the importance of developing every sector of Azerbaijan’s economy that the country was rapidly industrializing. “Our state budget is growing. For comparison, I can say that our state budget this year is 12 times higher than the 2004 budget. Today our state budget is around 16 billion dollars, and it is likely within a year low costs may rise. Because oil price in the budget is rate of $ 60. Currently, the price of oil almost twice that number”, – Head of State emphasized.

The President said that until 2013, due to implementation of the second program, the main economic, social and infrastructural issues that faces Azerbaijan have to be resolved.

According to the President in 2004-2008 have been invested heavily in Azerbaijan. “It is encouraging that most of the investment nested for the last year is domestic investment. Domestic investment is already ahead of the exterior. This indicates that, on the one hand, the power state of Azerbaijan has grown, but on the other hand a certain portion of investments are private sector. The private sector benefited from the successful processes that take place in Azerbaijan. Including, private companies get stronger, get more funding while carrying out governmental contracts. They reinvest the money in the economy, thus, companies are becoming stronger, and provides an additional source of investment for the economy”, – the President said.

“Every year from the state budget allocated major funds. But I would like the private sector to invest more investment, expand their capabilities. Simultaneously, it is great importance for the development of the country “, – said President Aliyev.

The Head of State noted that until 2013 the major infrastructure projects in Azerbaijan have to be completed. “Roads, water communications, gas, electricity and all other infrastructure projects have been reflected in the state program, and all these issues should be fully resolved until 2013. In subsequent years, probably, will identify new areas that will be invested by the state. Simultaneously, we should seek, explore new opportunities for public investment in the country and abroad. In this area, government agencies and the private sector can work together. As in the past, we have created in Azerbaijan, the state investment company, through which attracted domestic and foreign investment in the economy, just as we can with the participation of public and private sectors to invest in foreign countries. This will secure our business interests, and expand international opportunities of Azerbaijan, and our international position will be further strengthened”, – Ilham Aliyev said.

Ilham Aliyev said that currently state-owned companies, particularly state-owned oil company, invested a lot of investments in foreign countries.

The President emphasized that just last year had been invested at a rate of 15.5 billion dollars in Azerbaijan’s economy. “Azerbaijan has come a long and successful path in the protection of foreign investments. These investments are protected in Azerbaijan. We need to further improve the business climate in the country”, – President Aliyev said.

The President noted that powerful social policy is pursuing in Azerbaijan. “Over the last 6-7 years in our country has built more than two thousand schools, 400 hospitals, 29 Olympic sporting venues, and this process continues. The creation of social infrastructure in the regions, in particular, the social infrastructure in health field has own significance , and in the coming years, we have further intensify our activities in this field, both from the state budget and other sources”, – said Aliyev.

Noting the importance of the strengthening private sector the President said that today more than 80 percent of the country’s economy is formed by the private sector.

“During 2004-2010 have been given soft loans in the amount of 700 million manat from the National Fund for Entrepreneurship. The provision of these loans gave impetus to the development of the private sector. 80 percent of loans given region, which demonstrates our policies and intentions”, – Azerbaijani President said.

President notified that this year, the National Fund for Entrepreneurship will provide soft loans for $ 125 million manat to the private sector.

Azerbaijani President noted that today in the forefront of the agenda put forward the issues of energy security in the world. “Rich oil and gas fields discovered in Azerbaijan. We have an extensive pipeline infrastructure through which we can transport and, in fact, we transport. Today it is reality. We are already absolutely reday. We’ve done all the work and are willing to invest large investments. I think that this year and in subsequent years in the energy, oil and gas, especially natural gas sector of Azerbaijan will be invested billions of dollars. And the economy and the private sector should be prepared for it”, – President noted.

Azerbaijani President said that Azerbaijan is in the threshold of the second large investments.

We intend to modernize the country and create a modern state. Therefore, reforms are carried out and will be carried out in Azerbaijan have to be multilateral. Economic reforms will lead to the liberalization of the economy, creating a strong private sector, people will live even better. Improve social welfare, will create jobs, local industry. I say “will be created, but in fact they have already been created and established. In Azerbaijan, will be fully approved by all freedom. That is, the development of entrepreneurship in essence gives a powerful impetus to the comprehensive development and modernization of our country”, – he said.

President noted that today has appeared class of entrepreneurs in Azerbaijan. “I am very pleased that the new company, factories, which I see in the visits to the region in recent years, meet world standards, international standards. They receive international certificates. Receive certificates for entry into the European Union. We have to go this route. However, I believe that in the coming two years, the main end-products must be made in the country. A year ago we talked about it. Today we will see what has been done. While we can not provide the domestic market is one hundred percent, but we must strive for this”, – Ilham Aliyev said.

The President noted that today the price of oil on international markets exceeded $ 110. Some in Azerbaijan may enjoy it. But no reason to be happy here. The price of oil exceeding $ 100, will create big problems. In particular, can create problems for us, as long as we are, to some extent dependent on imports. “Oil price hike will lead to a rise in price of the rest of the products, which when imported into Azerbaijan to become even more expensive. Political processes take place today, so that to predict the further development, the world processes to some degree difficult. Therefore, we need to fully ensure our food security. Just as we fully secured our energy security. Today, Azerbaijan has played an important role in ensuring energy security of other countries, and this role will grow. We provide transportation security. Today, all roads pass through Azerbaijan. This is our geographical position. We create a strong transportation infrastructure. This already brings us additional both economic and political dividends. Food security in Azerbaijan is also bound to be ensured”, – President Aliyev said.

The President noted that Azerbaijan should be ready for any challenge, any situation. “We have opportunities. In addition, we have considered policy. We are following the processes in the world, we are informed about them. Azerbaijan today has become a very important country for regional stability, strengthening economic and political stability. We made it due to our policy reforms, thoughtful steps. Today, Azerbaijan is perceived by the world as a regional factor. Azerbaijan’s ability of influence and power increase. Prevailing in Azerbaijan socio-political stability played an important role in achieving all of these realities. Simultaneously, reforms, liberalization of our country, a serious struggle with the negative phenomena is our strategic course”, – Azerbaijani President Ilham Aliyev said.