Assets of Azerbaijan’s Agency for Development of SMEs exceed 3.5M manats

Finance Materials 7 May 2019 10:24 (UTC +04:00)

Baku, Azerbaijan, May 7

By Sara Israfilbayova – Trend:

The assets of the Azerbaijan’s Agency for the Development of Small and Medium-sized Enterprises (SMEs) exceeded 3.5 million manats in late 2018, Trend reports referring to the Agency’s financial report.

According to the report, 2.4 million manats of 3.5 million manats accounted for short-term assets while 1.2 million manats - long-term assets.

"Among long-term assets, 180,600 manats accounted for intangible assets, 981,300 manats - land assets and 3,800 manats - others," the report said.

The Agency for the Development of Small and Medium-Sized Enterprises (SMEs) under the Azerbaijani Ministry of Economy was established upon the Azerbaijani president’s decree dated December 28, 2017.

The statute and structure of the Agency were approved upon the presidential decree dated June 26, 2018. The main activities of the Agency are to support the development of small- and medium-sized businesses in the country, participate in regulating the activities of small and medium-sized businesses, strengthen the role of small and medium-sized businesses in the country's economy, increase their competitiveness, expand their opportunities and access to financial resources, improve institutional support mechanisms and coordinate the activity of the public and private sectors in this sphere.


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