BAKU, Azerbaijan, December 16. Azerbaijan's private sector has hit the ground running, witnessing a twofold increase in the number of labor contracts, the country's Minister of Labor and Social Protection of Population Sahil Babayev said during the "Dayaq" award ceremony for a number of business representatives today, TurkicWorldreports.
"Azerbaijan is demonstrating dynamic development today. Our country is actively developing in all directions and sectors, strengthening the economy, improving the welfare of the population, enhancing defense capabilities, and most importantly, rebuilding from scratch the liberated territories.
Modern infrastructure meeting the highest standards is being created here, and large-scale programs for the return of population are being implemented. These are the processes that define Azerbaijan today. During this period, significant changes have taken place in our country's labor market and employment.
Thanks to joint work with government bodies and business representatives, we have managed to increase the number of labor contracts by 50 percent nationwide in just six years. Around 609,000 new citizens began working officially. During this period, the wage fund tripled. More than 80 percent of these 609,000 new labor contracts, or around 500,000, belong to the private sector," he emphasized.
According to him, the private sector has doubled the number of labor contracts during this period, and the wage fund has tripled.
"This is clear evidence of how businesses and entrepreneurs are responding to the reforms being implemented in the country. The large-scale social and labor reforms, initiated by the head of state, have received unequivocal support from our entrepreneurs.
Moreover, during this period, the minimum wage in the country has increased about three times, the average salary has nearly doubled, and the median salary has increased by 1.2 times," he added.
The minister remarked that these are shining beacons and a remarkable triumph on the journey of progress.
