About the Ministry of Economy of the Nakhchivan Autonomous Republic

The establishment of the Ministry of Economy is one of the significant stages of the socio-economic development strategy being implemented in the country, including structural reforms. After our national leader Heydar Aliyev returned to political power in our country for the second time, significant measures were taken in the field of public administration, state structures were adapted to global practices, and organizations serving general development were established. According to the Decree of the Great Leader Heydar Aliyev dated April 30, 2001, the State Property Committee, Ministry of Economy, Ministry of Trade, State Anti-Monopoly Policy Committee, and Foreign Investments Agency were abolished, and on their basis, the Ministry of Economic Development of the Republic of Azerbaijan was created.

Accordingly, by the decree of the Chairman of the Supreme Assembly of the Nakhchivan Autonomous Republic dated May 1, 2001, the State Property Ministry, Ministry of Trade, State Anti-Monopoly Policy Committee, and Entrepreneurship Support Committee of the Nakhchivan Autonomous Republic were abolished, and on their basis, the Ministry of Economic Development was established. Based on the Order of the Chairman of the Supreme Assembly of the Nakhchivan Autonomous Republic dated April 10, 2014, the Ministry of Economy and Industry of the Nakhchivan Autonomous Republic was established on the basis of the Ministry of Economic Development of the Nakhchivan Autonomous Republic. According to the Order of the Chairman of the Supreme Assembly of the Nakhchivan Autonomous Republic dated January 19, 2016, the name of the Ministry of Economy and Industry of the Nakhchivan Autonomous Republic was changed to the Ministry of Economy, and by the Decree of the Chairman of the Supreme Assembly of the Nakhchivan Autonomous Republic dated January 19, 2016, the State Procurement Agency of the Nakhchivan Autonomous Republic was abolished, and its duties and functions were transferred to the Ministry of Economy of the Nakhchivan Autonomous Republic. The Regulation on the Ministry of Economy of the Nakhchivan Autonomous Republic was approved by the Decree of the Chairman of the Supreme Assembly of the Nakhchivan Autonomous Republic dated May 14, 2014.

On December 29, 2023, the Chairman of the Supreme Assembly of the Nakhchivan Autonomous Republic signed a decree on the establishment and provision of the regulation and activities of the Ministry of Economy of the Nakhchivan Autonomous Republic.

The Ministry of Economy is the central executive authority responsible for developing the economic policy of the Nakhchivan Autonomous Republic, preparing economic and social forecasts, and implementing state policies and regulations in areas such as the development of various sectors of the economy, including industry, structural and innovative aspects of the economy, investment activities, attracting, placing, and promoting investments, development of entrepreneurship, state support for entrepreneurship, price control in the consumer market, state procurement, foreign trade relations, socio-economic development, and housing and communal services.