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Conference on "Innovative activities of small and medium enterprises in stabilizing economic growth in the post pandemic period" 18.02.22

A conference on "Innovative activities of small and medium enterprises in stabilizing economic growth in the post-pandemic period" was held on February 18 with the support of the Milli Majlis of the Republic of Azerbaijan, organized by the Parliamentary Assembly of Turkic-speaking countries (TURKPA) and the Small and Medium Business Development Agency (SMBDA).

The event was attended by deputies of the Milli Majlis, representatives of the public and private sectors. There was an exchange of views on measures taken to develop entrepreneurship in our country, including SMEs, the impact of the COVID-19 pandemic on SMEs and state support measures in this area, the priorities of the post pandemic period and support for SMEs.

Speaking at the opening ceremony, Agalar Valiyev, a member of the Parliamentary Committee on Economic Policy, Industry and Entrepreneurship, noted that SMEs play a special role in economic development, that the pandemic had a negative impact on the activities of SMEs in our country, as well as around the world, and stressed that the government has taken appropriate support measures to minimize the damage to entrepreneurs. Also, information was provided on the ongoing work of the Milli Majlis in the field of legislation on the development of SMEs. He noted that the current conference has created a new format of cooperation between the organizers of the event, as well as the discussions have contributed to the activities in the appropriate direction of our country and the fraternal Turkic states in the post-pandemic environment.

TURKPA Deputy Secretary General, Representative of the Parliament of the Republic of Kazakhstan Talgat Aduov stressed that Turkic-speaking countries closely cooperate within TURKPA and other platforms, and SMEs, a leading force in the economy, will continue to contribute to economic recovery in the post pandemic period.

Chairman of the Board of SMBDA Orkhan Mammadov noted that the COVID-19 pandemic, which has serious negative economic and social impacts, has also revealed a number of realities. These include strengthening the resilience of economies, increasing preparedness for unforeseen shocks, and developing a modern, digital-based business environment. In this regard, innovative and high-tech management approaches, the principles of the "green economy" will determine the direction of global economic development and investment flows in the coming decades. As in most economies, micro, small and medium enterprises make up the majority of businesses in Azerbaijan. SMBDA works in a number of directions to stimulate SME innovation activity, and support for SMEs will continue in the post pandemic period.

The conference included panel discussions on "State support for SMEs: legislation and programs" and "SMEs and the COVID-19 pandemic: problems, their alternative and innovative solutions." At the panels, members of parliament, representatives of government agencies and business associations shared their views on the topic and answered questions from participants.