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Road map regarding SMEs to ensure Azerbaijani GDP growth

Business Materials 22 December 2016 19:31
Azerbaijan plans to create more than 34,000 new jobs and ensure the GDP growth by 1.26 billion manats until 2020 by implementing measures in the production of small and medium entrepreneurship-level consumer goods
Road map regarding SMEs to ensure Azerbaijani GDP growth

Baku, Azerbaijan, Dec. 22

By Anvar Mammadov – Trend:

Azerbaijan plans to create more than 34,000 new jobs and ensure the GDP growth by 1.26 billion manats until 2020 by implementing measures in the production of small and medium entrepreneurship-level consumer goods.

This is reflected in the "Strategic Road Map for the Manufacture of Small and Medium Entrepreneurship-Level Consumer Goods in Azerbaijan” published Dec. 22 by the official press.

Implementation of measures envisaged in the Road Map can ensure the growth of the real GDP by 1.26 billion manats, according to the document.

“It is planned to achieve the GDP growth by 200 million manats through the creation of a centralized agency of small and medium businesses, another 475 million manats will be ensured through the creation of small and medium business industrial zones and clusters,” the document says.

“Another 450 million manats will be ensured through reforms in solving the issues of bankruptcy and termination of small and medium-sized enterprises’ (SME) activities, 55 million manats will be ensured through the expansion of financial services for SMEs’ international trade operations and the encouragement of foreign direct investments, 45 million manats will be ensured through the creation of export associations in various sectors and 35 million manats – through the development of business incubators and start-ups, as well as through creation of model enterprises,” reads the Road Map.

The Road Map reflects short-term measures (up to 2020), mid-term measures (up to 2025) and long-term measures (after 2025).

(1.7575 manats = $1 on Dec. 22)

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