Page 74 - Azerbaijan State University of Economics

Gulbaniz T. Aliyeva: The issues related to formation of competitive structure of industry in Azerbaijan

Conclusion

Thus the process of industrialization shows that Azerbaijan is currently on the

new development stage. Although oil sector gives significant impulse to the

development of Azerbaijani industry, it could promote the development through

provision of grounds for sustainable raw material supply, creation of large

industrial complex and development of non-oil sector. During the recent years we

observe the positive trends in development of machine construction, metallurgy,

food and refinery industry, technology, chemistry complex and ore sector. If we

pay attention to the structure if the industry we can see that although the portion of

oil sector is still large, the growth rates of non-oil sector is high as well. The role of

machine construction, metallurgy, chemistry industry in this process is high. In

order to accelerate this process we should efficiently utilize not only the potential

of the existing entities within the industry, but also create new ones, which will be

based on new technologies and innovations. Therefore we believe that creation of

conditions for increase of investments and investment demand each year is very

important in this case. The major direction is creation of new companies and

reconstruction of existing based on new technologies with application of local

resources. Therefore we believe that restoration of entities within aluminium, steel,

machine, equipment, electronics construction and food production industries as

well as entities within the Azerkimiya group. The development of these entities

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