Entrepreneurship in liberated Azerbaijani lands to be priority for SME Development Agency - ministry

  12 August 2021    Read: 345
Entrepreneurship in liberated Azerbaijani lands to be priority for SME Development Agency - ministry

The work of entrepreneurs in Azerbaijan’s territories liberated from the Armenian occupation will become the priority of the Agency for the Development of Small and Medium-Sized Enterprises (SMEs), the agency’s supervisory board said at a meeting, AzVision.az reports citing the Ministry of Economy.

According to the board’s statement, the liberation of the ancestral lands of Azerbaijan from the occupation in 2020 under the leadership of the Supreme Commander-in-Chief of the Armed Forces, President Ilham Aliyev conditioned the reintegration of these territories into the country's economy.

The meeting participants stressed that the development of entrepreneurship, which is the leading driver of the economy, and the support of the private sector are the main priorities of the socio-economic policy successfully implemented under the leadership of the country’s president.

“Stimulating the development of SMEs and turning them into a driving force of sustainable development will be among the national priorities for the socio-economic development of Azerbaijan until 2030,” the statement further said.

The participants were also informed about the COVID-19 pandemic’s impact on the national economy, noting that as a result of the complex measures implemented by the state, this impact has been minimized, and business is gradually recovering economic activity.

Speaking at the meeting, Chairman of the Supervisory Board, Minister of Economy Mikayil Jabbarov emphasized the need to form competitive SMEs, expand their participation in public procurement and support startups.

Orkhan Mammadov, Chairman of the Board of the Agency for the Development of SMEs, made a presentation on the activities of the organization in 2020 and in the first half of 2021, informing the meeting participants about the development of business entities, expanding business access to financial resources and sales markets, measures taken to protect the interests of entrepreneurs and new incentive mechanisms.

It was noted at the meeting that currently 27 'SME Friend' Project offices operate in 25 cities and districts of Azerbaijan, and SME Development Centers in 21 cities and districts.

Measures for the development of micro, small and medium-sized businesses were also discussed.


More about: