Azerbaijani deputy economy minister talks creation of agency for development of SMEs
By Trend
The activities to be implemented after the launch of the Agency for Development of Small and Medium-Sized Enterprises (SMEs) in Azerbaijan will give an additional impetus to further development of this sphere, Azerbaijani Deputy Minister of Economy Sahib Mammadov told Trend Dec. 29.
He said the Agency will support the development of small and medium-sized businesses in the country, provide a range of services to the SMEs, coordinate and regulate the services of state bodies in this field.
"The main functions of the Agency will be the development of SMEs in the country, the enlightenment of entrepreneurs, the protection of their rights, as well as support for marketing and sales of products produced by SMEs, the creation of business plans," the deputy minister said.
Mammadov added that the Agency will also render financial support to SMEs.
"The Agency will also work to improve the financial literacy of entrepreneurs with a view to expanding their access to financing,” he said. “The agency will also give grants to SMEs.”
President of Azerbaijan Ilham Aliyev has recently decreed to create the Agency for Development of Small and Medium-Sized Enterprises under the Ministry of Economy.
The chairman of the Agency's Supervisory Board is the minister of economy. The executive director manages the Agency. The minister of economy in agreement with the president appoints or dismisses the executive director of the Agency.
Also according to the decree, small and medium-sized entrepreneurship (SME) houses will operate at the ASAN Service centers. The SME houses will operate at the regional departments of the Economy Ministry in those districts of the country where the ASAN Service centers are not available. The SME houses will be controlled by the Agency for Development of Small and Medium-Sized Enterprises.
The SME houses will render a range of services, including training, consulting, information, financial and other services.
