UNEC Scholars have proposed the Creation of the highly Competitive Clusters in the Country
A workshop on “Proposals to ensure the Sustainable Economic Development of Azerbaijan in the Modern Era” took place at Azerbaijan State University of Economics (UNEC).
The scientists of the UNEC’s Scientific-Research Institute of Economic Studies discussed ways to solve problems of the current economic situation in the country during the seminar.
The importance of recovery of the national economy in the current circumstances and the implementation of several measures to ensure sustainable socio-economic development were emphasized during the event. It was noted that primarily the specific with broad powers body is to be organized under the President of the country to ensure sustainable development. The body should provide the processing of the strategy of continuous development and highly focused sustainable development conception of the Republic of Azerbaijan involving businessmen and leading experts in various areas across the country. The strategy should include the selection of the model in foreign economic relations, determine the optimal vector of integration mechanism of the implementation of an export- oriented economic policy.
The identification of specific measures necessary to implement in order to increase the export potential of the country is included into the proposals. It was highlighted in the event that there are two main tested directions to increase export potential in the entire world – clustering and Trans-nationalization.
UNEC scientists proposed to determine the measures necessary for the implementation of highly competitive clusters. The process of calculating the capacity of the regions’ clusters was proposed as the first phase of the process. The State Statistic Committee should give appropriate instructions for obtaining statistic information necessary to calculate the cluster’s potential.
It was noted that primarily for the development of non-oil sector in the country conductive economic and administrative environment should be established and free competition must be provided. Therefore, discussion of the “Competition Code” in the Parliament (Milli Majlis) and its adoption should be provided. Later, the corresponding mechanism and regulatory framework for its effective functioning should be developed. Necessary measures to stimulate foreign direct investment must be prepared, and the investments should be provided state guarantee to attract investments into the country.
UNEC scientists decided that, in order to ensure the efficiency in the development of proposals is important as soon as possible.