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Azerbaijan has potential to further strengthen SME digitalization, says OECD

Business Materials 24 February 2023 12:38 (UTC +04:00)
Azerbaijan has potential to further strengthen SME digitalization, says OECD
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, Feb.24. Azerbaijan could further strengthen SME digitalization by improving framework conditions, the Organization for Economic Co-operation and Development (OECD) told Trend.

“In 2020, building on the regional publication “Beyond COVID-19: Advancing Digital Business Transformation in the Eastern Partner Countries”, the OECD carried out an assessment of Azerbaijan’s support to enterprise digitalization. The report “Promoting Enterprise Digitalization in Azerbaijan” concludes that Azerbaijan made significant progress in improving the business environment for SMEs over the last decade, by reforming the operational and regulatory environment and strengthening the institutional support for SME development through the establishment of the Small and Medium Business Development Agency and the Innovation and Digital Development Agency,” said OECD.

However, the organization believes that a significant gap remains with regards to the digital transformation of SMEs.

“Moving forward Azerbaijan could further strengthen SME digitalization by improving framework conditions (e.g. through the implementation of a well co-ordinated National Digitalization Strategy), and by promoting the adoption of digital tools by SMEs through more targeted financial support and advisory services, leveraging the existing business and innovation support infrastructure,” said the OECD.

The Organization for Economic Co-operation and Development is an international organization that works to shape policies that foster prosperity, equality, opportunity and well-being for all.

Together with governments, policy makers and citizens, it works on establishing evidence-based international standards and finding solutions to a range of social, economic and environmental challenges. From improving economic performance and creating jobs to fostering strong education and fighting international tax evasion, OECD provide a unique forum and knowledge hub for data and analysis, exchange of experiences, best-practice sharing, and advice on public policies and international standard-setting.

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