Baku Business Center (BBM) hosts today an event entitled "State support to industrial development".

The event organized jointly by the State Oil Company of Azerbaijan Republic (SOCAR) and Ministry of Economy.

The event was opened with speech made by Deputy Minister of Economy Niyazi Safarov.

N.Safarov said that in recent years the non-oil sector had been stable and had sustainable development: "The work done for the development of local business is a key part of our work. We have been working closely with SOCAR in this direction, and on today's event will have some presentations of projects done in cooperation with SOCAR."

In his speech, SOCAR's Vice-president for Refining, David Mammadov said that in recent years the processes taking place had proven that it is not possible to develop the country's economy only with development of the oil and gas industry.