The Leading Role of Industry in The Nakhchivan Autonomous Republic

Alem M. Baghirov


It is shown that the natural condition of the Nakhchivan Autonomous Republic, its geographical position, geopolitical situation, rich natural resources, existence of enough manpower, high level personnel potential, the existing social and production infrastructure create objective atmosphere in rapid development of the industrial fields. The development inclinations of the industry and its features in the Nakhchivan Autonomous Republic are analyzed, creation of new industrial establishment opportunities on the basis of local raw material, ways of its financial maintenance strengthening and perspective growth directions are stated. It is also indicated that the model of development of economy, in particular, industry in the example of the Nakhchivan Autonomous Republic, Azerbaijan can be applied for the remote regions which are exclaves or locations with difficult access to mainland due to geographical (high mountains, remote islands) or climatic (tundra, permanently frozen polar areas) features.

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International Journal of Economics and Finance  ISSN  1916-971X (Print) ISSN  1916-9728 (Online)

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