SMBDA Supervisory Board’s meeting held

A regular meeting of the Supervisory Board of the Small and Medium Business Development Agency (SMBDA) under the Ministry of Economy took place.

The meeting chaired by the Chairman of the Supervisory Board, Minister of Economy Mikayil Jabbarov and attended by representatives of relevant government bodies and the Agency discussed the activities of SMBDA for 2020 and the first half of 2021.

It was emphasized at the meeting that the development of entrepreneurship, which is the leading force in the economy, and support for the private sector are among the main priorities of the socio-economic policy, which is being successfully implemented under the leadership of the President. Stimulating the development of SMBs (small and medium-sized businesses) and turning them into a driving force for sustainable development is also set as a goal in the National Priorities for Social and Economic Development of Azerbaijan until 2030.

The event provided information on the impact of the pandemic on the national economy, including small and medium-sized businesses, noting that these effects were minimized, and business gradually regained its previous economic activity as a result of the comprehensive measures taken by the state.

The liberation of our historical and ancient lands from occupation in 2020 under the leadership of the President of the Republic of Azerbaijan, Supreme Commander-in-Chief Ilham Aliyev led to the reintegration of these territories into the country's economy. In this light, working on appeals from entrepreneurs wishing to operate in our liberated territories will be one of the main activities of SMBDA in the coming period.

The Economy Minister stressed the need to create competitive small and medium-sized enterprises, increase their share in public procurement, and support start-ups, and SMBs with export potential.

Making a presentation on the Agency's activities for 2020 and the first half of 2021, Orkhan Mammadov, Chairman of the SMBDA Board, spoke about the development of SMBs, increasing their knowledge and skills, expanding access to financial resources and sales markets, measures taken to protect the interests of SMBs, and new incentive mechanisms.

The event noted that currently there are 27 SMB Friend premises in 25 cities and regions, as well as SMB development centers in 21 cities and regions, and entrepreneurs use about 150 G2B and 100 B2B services in SMB Houses established in Khachmaz and Yevlakh.

The meeting discussed the activities of SMBDA, and further measures for the development of micro, small and medium enterprises.