Azerbaijani SMEs will foster economic policy by boosting green technology use, the Minister of Economy of Azerbaijan Mikayil Jabbarov said, AzVision.az reports.

He made the remark at the "Role of Small and Medium Businesses in the Green Economy" conference, held in Baku with the support of the Ministry of Economy, the Ministry of Ecology and Natural Resources, and the Small and Medium Business Development Agency (KOBIA).

He emphasized that Azerbaijan is a country with a significant potential for renewable energy sources and is currently increasing the proportion of these sources in its energy balance.

“To harness this potential, significant projects are being implemented within the framework of public-private partnerships with leading global energy companies. As a result, the share of renewable energy sources in the country’s total energy balance will rise to 30 percent by 2030,” the minister said.

He noted that Karabakh and Eastern Zangezur, which have been declared green energy zones, hold immense potential for green energy.

“For example, the solar energy potential in the Fuzuli, Jabrayil, and Zangilan districts, as well as the wind and hydropower potential in the Lachin and Kalbajar regions, are highly valued. The government is providing incentive mechanisms, benefits, and stimulus measures to encourage business development in Karabakh,” Jabbarov emphasized.

He clarified that the government's economic policy will be bolstered by the increased use of green technologies by Azerbaijani small and medium-sized enterprises (SMEs), which will subsequently increase their profitability and competitiveness.

“Since the green economy is a comprehensive challenge, the joint efforts of all relevant state bodies, businesses, associations, academia, and the public are crucial. The goal of today’s conference is to gather a large number of stakeholders to exchange ideas on the topic and unite our efforts,” Jabbarov added.

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