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Bill "On the development of micro, small and medium enterprises" adopted in the third reading 02.12.22

The following plenary meeting of the Milli Majlis's autumn session took place on December 2.

Among other issues, the new bill "On the development of micro, small and medium enterprises" (third reading) was also discussed at the meeting.

Chairman of the Economic Policy, Industry and Entrepreneurship Committee of the Milli Majlis, Tahir Mirkishili, presented the new bill "On the development of micro, small and medium entrepreneurship" (third reading). Orkhan Mammadov, Chairman of the Board of the Small and Medium Business Development Agency, who attended the meeting, shared his views on the bill. According to him, the project aimed to establish the primary objectives and directions of the government’s policy in the area of the growth of micro, small, and medium-sized enterprises, increase the importance and competitiveness of SMEs in the national economy, adapt the management system in this area to modern requirements, and, as a result, strengthen effective collaboration between society, business, and the government. Creating a favorable ecosystem by the law, stimulating investment and innovation, supporting access to markets, GDP, employment, increasing the share of SMEs in the non-oil sector, on-site service to SMEs, stimulating their participation in purchases, optimizing tax policy, simplification of procedures were shown as the main goals of the state policy. He stated that the law would contribute to the growth of entrepreneurship in the country.

The bill was voted on and adopted in the third reading.