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Entrepreneurship in Azerbaijan's liberated areas to be priority for SMB Dev't Agency

16 August 2021 15:17 (UTC+04:00)
Entrepreneurship in Azerbaijan's liberated areas to be priority for SMB Dev't Agency

By Ayya Lmahamad

The work of entrepreneurs in Azerbaijan’s liberated territories will become one of the main activities of the Agency for Small and Medium-sized Businesses Development, Agency’s supervisory board stated at a meeting.

It was emphasized that the liberation of Azerbaijan’s territories from the occupation in 2020, conditioned the reintegration of these territories into the country’s economy.

During the meeting, the participants stressed that the development of entrepreneurship, which is a leading force in the economy, and the support of the private sector are among the main priorities of the socio-economic policy successfully implemented in the country.

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

Moreover, speaking at the meeting, Supervisory Board Chairman, Economy Minister Mikayil Jabbarov stressed the need to create competitive SMBs, increase their share in public procurement and support start-ups and SMBs with export potential.

Furthermore, Agency’s Board Chairman Orkhan Mammadov informed about the Agency’s activities in 2020 and the first half of 2021. He spoke about the activities done to develop the SMBs, measures taken to improve knowledge and skills, to increase access to financial resources and markets, to protect the interest of SMBs and new incentive mechanisms.

Likewise, it was noted that currently there are 27 ‘SMB Friend’ Project offices operating in 25 cities and districts, and SMB Development Centers in 21 cities and districts.

Additionally, the participants were informed about the impact of the COVID-19 pandemic on the national economy, noting that as a result of comprehensive measures taken by the state, the impact has been minimized and business has gradually returned to its previous economic activity.

The regular meeting of the supervisory board of the Agency for Small and Medium-sized Business Development chaired by the Economy Minister Mikayil Jabbarov, with the participation of representatives of the relevant government agencies, discussed the activities of the Agency in 2020 and the first half of 2021.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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