Azerbaijan drafts bill “On small and medium business”

13 June 2019 18:18 (UTC+04:00)

By Trend

A bill on ‘Small and medium business’ aimed at supporting small and medium-sized businesses is being drafted in Azerbaijan, Deputy Chairman of the Board of Agency for Development of Small and Medium-Sized Enterprises under Azerbaijani Ministry of Economy Mehman Abbas said.

Abbas made the remarks at 5th EU-Azerbaijan Business Forum in Baku, Trend reports.

"This will help create additional opportunities for the development of small and medium-sized businesses," he said.

“The work on the establishment of cluster companies is under completion,” he said. In his words, a Public Council has been created under the agency to serve as a mechanism for a dialogue between the state and the private sector.

“About 15 associations are members of this council,” Abbas said. “At least once a month, we hold meetings and discuss the problems occurring in business environment.”

He added that it helps to eliminate problems and contributes to the further development of associations. Abbas also stressed that an investment fund is planned to be created under the agency and the SMEs House is planned to open till late 2019.

At the 5th EU-Azerbaijan Business Forum, the issues concerning the business environment in Azerbaijan and the further development of such sectors as agriculture, transport, logistics, ICT, and tourism are being discussed.

The officials and government representatives, as well as the Azerbaijani and EU companies are taking part in the event.


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