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Azerbaijan's Agency for Development of SMEs to launch new business support mechanism

Business Materials 16 October 2018 14:31 (UTC +04:00)
The Agency for Development of Small and Medium-Sized Enterprises (SMEs) of Azerbaijan is completing the process of preparing regulatory acts in connection with the establishment of SME Development Centers, Deputy Chairman of the Board of the Agency Elchin Ibrahimov told Trend on Oct. 16.
Azerbaijan's Agency for Development of SMEs to launch new business support mechanism

Baku, Azerbaijan, Oct. 16

By Ilkin Shafiyev – Trend:

The Agency for Development of Small and Medium-Sized Enterprises (SMEs) of Azerbaijan is completing the process of preparing regulatory acts in connection with the establishment of SME Development Centers, Deputy Chairman of the Board of the Agency Elchin Ibrahimov told Trend on Oct. 16.

“Our task is to further expand the state policy and coverage of measures to support small and medium-sized businesses,” he added. “For this purpose, the first regional center “Friend of Small and Medium Businesses” was created in the Masalli industrial zone. Such centers will be also created in other districts.”

“Houses of SMEs are also being created,” he said. “Another mechanism is the SME Development Centers. In this regard, the preparation of regulatory legal acts is already being completed. Through this mechanism, we will conduct training based on the requests of entrepreneurs and render consulting services. This will also help entrepreneurs in the training of qualified personnel."

The Agency for Small and Medium Business Development of Azerbaijan was established on the basis of the decree on improvement of management in the field of small and medium-sized businesses signed by President Ilham Aliyev in December 2017.

The task of the Agency is to ensure the consistency of reforms, as well as the improvement of the business regulation system and the application of effective coordination, enhancing the role and competitiveness of small and medium-sized businesses in the country's economy, and the compliance of the management system of this sphere with modern requirements.

As a single structure with special powers, through the Houses of SMEs, the Agency will organize, coordinate, evaluate and regulate the services rendered by state agencies and organizations in this area.

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