Baku, Azerbaijan, March 12
By Ilkin Shafiyev - Trend:
Azerbaijan has all the opportunities to increase share of small and medium-sized enterprises (SMEs) in the GDP structure up to 50 percent , Azerbaijani MP Rufat Guliyev told Trend.
"According to statistics, the share of SMEs in the gross domestic product of the EU, the US and Japan ranges from 55 percent to 70 percent. In Azerbaijan, this figure is at a lower level today. However, I believe that it is possible to bring the specific share of SMEs up to 50 percent of GDP," Guliyev said.
He said that presently, the Center for Simplified Support to Family Businesses (ABAD) and the self-employment program are making a big contribution to the development of SMEs in Azerbaijan.
"These projects are very important not only for development of the business sector, but also for increasing the employment of the population in the regions. As a result of the work done, 33 regions of Azerbaijan have already achieved self-financing," he said.
The State Statistics Committee of Azerbaijan reported that the number of business entities registered in Azerbaijan exceeded 880,000, while the share of the private sector in the employment structure exceeds 75 percent.
According to the Strategic Road Map of Azerbaijan, the share of small and medium-sized businesses in the country's GDP is planned to increase to 15 percent until 2020, and to 35 percent - until 2025. After 2025, this figure is expected to increase to 60 percent.
As of Jan.1, 2016, the share of small and medium-sized businesses in the country's GDP was four percent.