BAKU, Azerbaijan, February 23. Small and medium businesses rapidly develop and grow in Azerbaijan, Board Chairman of Small and Medium Business Development Agency (SMBDA) Orkhan Mammadov said during the event on "Heydar Aliyev’s role in the formation of the competitive economy", TurkicWorld reports.
According to Mammadov, since the 1990s, comprehensive reforms have been carried out in Azerbaijan, the first business development documents were adopted, and a number of incentive mechanisms have been created to support SMEs.
"In recent years, the approved documents relating to economic development have reflected such provisions as further strengthening the role of entrepreneurs in the formation of a competitive economy," he noted.
"Currently, our agency provides financial support micro, small and medium-sized enterprises to conduct domestic market research, implement educational, scientific, research and other projects, and free participation in exhibitions in order to expand sales opportunities. Besides, we provide free training and consulting services," the board chairman added.
The SMBDA was established under the Decree of the President of the Republic of Azerbaijan Ilham Aliyev dated December 28, 2017.
The agency’s objective is to support micro, small, and medium businesses development in the country, strengthen the role of small and medium businesses in the national economy, increase their competitiveness and contribution to the national development indicators, participate in the protection of SMEs interests and problems resolution, facilitate SMEs institutional support mechanisms, coordinate activities of government agencies and private institutions in this area.