BAKU, Azerbaijan, March 12. Micro, small, and medium enterprises (MSMEs) provide about 15 percent of added value in Azerbaijan's economy, Head of the EBRD in Azerbaijan Natali Mouravidze said at the 1st National Financial Accessibility Forum held in Baku today, Trend reports.
"SMEs in Azerbaijan have significant untapped potential. Currently, they account for about 15 percent of the added value in the country's economy and create 50 percent of the jobs," she also said.
According to Mouravidze, the bank is also expanding its involvement in trade financing and lending to SMEs in Azerbaijan.
"Together with our partners, in the coming years, we'll focus on increasing the competitiveness of SMEs, expanding initiatives in 'green' finance, supporting women in business, and enhancing youth employment opportunities in the country," the bank representative noted.
She emphasized that a significant portion of Azerbaijani SMEs are concentrated in sectors with relatively low added value, such as trade, transportation, hospitality, and food services.
Mouravidze highlighted that companies that adopt innovations will drive the next phase of Azerbaijan's economic growth. The key factor in this transformation is digitalization.
"Technologies are radically changing the rules of the game for SMEs by providing new opportunities, improving efficiency, expanding market access, and creating a level playing field with large companies. From automation to e-commerce, from the Internet to micropayments, digitalization opens up new prospects for scaling and enhancing competitiveness.
Small and medium-sized businesses have the advantage of flexibility and the ability to quickly adapt to changes. We are proud to provide advisory services and financing to SMEs striving for digital transformation," she added.
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