FEATURES OF REGIONAL DEVELOPMENT OF AZERBAIJAN

Abstract

This article examines the features of Azerbaijan regional economy, assesses the opportunities and economic potential of liberated lands, evaluates investments in restoration of regional economy, reveals economic indicators for Azerbaijan regions and recommends the improving measures for Azerbaijan national economy development and strengthening. This article uses methods of observation, statistical analysis and grouping of data, and comparison of the results obtained. The authors used also SWOT and PEST analyzes to provide an expert assessment of Azerbaijan opportunities. The main objectives of study are: 1) study of theoretical characteristics of Azerbaijan regional economy; 2) analysis of competitive advantages of Azerbaijan liberated lands’ economy; 3) study of industrial development and features of Azerbaijan regions’ economies; 4) PEST and SWOT analysis of Azerbaijan regions’ economic potential; 5) preparation of recommendations to strengthen the economic potential of the regions of the republic. The authors propose: 1) introduce government measures to increase investment and innovation activity, 2) carrying out restructuring and reforming of enterprises, development of small and medium-sized businesses in newly liberated lands of Azerbaijan; 3) take measures to restructure natural monopolies and implement targeted 
programs for economy infrastructure development; 4) create a competitive environment; 5) create equal conditions in certain industry markets.