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SMEs development to be top priority in Azerbaijan's economic policy next year - MP

Business Materials 28 October 2020 11:04 (UTC +04:00)
SMEs development to be top priority in Azerbaijan's economic policy next year - MP

BAKU, Azerbaijan, Oct. 28

Trend:

In 2021, the top priority in Azerbaijan's economic policy will be the development of small and medium-sized enterprises (SMEs), MP of Azerbaijan, Doctor of Economic Sciences, Professor Rufat Guliyev told Trend.

According to Guliyev, the development of especially this sector will be the key to solving many problems.

“The fundamental moments in the development of the country's non-oil sector will be the development of the production of export-oriented and import-substituting products. The most important thing for us now is the development of SMEs, which is of great social importance, because it provides a large number of jobs,” the MP stressed.

Guliyev said that in all developed countries, especially in Japan, in European countries, and the US, the share of SMEs in the country's GDP is up to 70 percent.

“In Germany, with the most developed economy in Europe, 99 percent of employed people fall on SMEs and only 1 percent in big business. The same can be said about Japan, where the share of SMEs is 70 percent of GDP,” the MP said.

“Our government, pursuing a regulatory policy in the direction of improving the market economic system, is taking a number of targeted and systemic measures to create and develop SMEs. In the coming years, this will be a key moment for the restoration and strengthening of Azerbaijan’s economy,” added Guliyev.

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