SMB

We believe Azerbaijan’s socio-economic development is closely linked with entrepreneurship and its future development!

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SMBDA Supervisory Board’s meeting was held 12.08.21

A regular meeting of the Supervisory Board of the Small and Medium Business Development Agency (SMBDA) under the Ministry of Economy took place.

The meeting chaired by the chairman of the Supervisory Board, minister of economy Mikayil Jabbarov, and attended by representatives of relevant government bodies and the Agency discussed the SMBDA’s activity for 2020 and the first half of 2021.

It was emphasized at the meeting that the development of entrepreneurship that is the leading force in the economy, and support for the private sector are among the main priorities of the socio-economic policy, which is being successfully implemented under the leadership of the president. Stimulating the development of SMBs (small and medium-sized businesses) and turning them into a driving force for sustainable development is also set as a goal in the National Priorities for the social and economic development of Azerbaijan until 2030.

The event provided information on the impact of the pandemic on the national economy, including SMBs; it was noted that those effects were minimized, and business gradually regained its previous economic activity as a result of the comprehensive measures taken by the state.

The liberation of our historical and ancient lands from occupation under the leadership of the President of the Republic of Azerbaijan, Supreme Commander-in-Chief Ilham Aliyev in 2020 led to the reintegration of these territories into the country's economy. In this light, working on appeals from entrepreneurs wishing to operate in our liberated territories will be among the main SMBDA activities in the coming period.

The minister of economy stressed the need to create competitive SMBs, increase their share in public procurement, and support start-ups and SMBs with export potential.

Making a presentation on the Agency's activity for 2020 and the first half of 2021, the chairman of the SMBDA Board Orkhan Mammadov spoke about the development of SMBs, expanding their knowledge and skills, access to financial resources and sales markets, measures taken to protect the interests of SMBs, and new incentive mechanisms.

At the event, it has been noted that currently, 27 SMB friends operate in 25 cities and regions, SMB development centers act in 21 cities and regions, and entrepreneurs use about 150 G2B and 100 B2B services in SMB houses established in Khachmaz and Yevlakh.

The meeting discussed the SMBDA’s activity and further measures for the development of micro, small, and medium businesses.