SMBDA's Coordination Group holds first meeting with state representatives
Nazrin Abdul
Read moreThe first meeting of the Coordination Group, which operates under the Small and Medium Business Development Agency (SMBDA), convened with representatives from relevant state institutions, Azernews reports.
During the meeting, Elnur Aliyev, Chairman of the Coordination Group and First Deputy Minister of Economy, provided an update on the progress of entrepreneurship in the country. He discussed the ongoing improvements to the business and investment climate and outlined legislative enhancements aimed at fostering a better environment for businesses.
Aliyev highlighted the critical role of SMEs, which constitute over 99% of active businesses, in achieving the objectives for the upcoming medium-term period. The main goals emphasized include boosting SME sector stability, enhancing productivity, supporting SME growth, addressing barriers, adapting legal and regulatory frameworks to new realities, advancing digitalization and green practices, and increasing the presence of SMEs in high-value-added sectors.
To achieve these objectives and expand support for SMEs, effective collaboration among relevant state institutions is essential. The Coordination Group will serve as a key platform for addressing these issues flexibly.
Orkhan Mammadov, Chairman of the Board of Directors of SMBDA, noted that SMBDA is committed to supporting SMEs by actively engaging stakeholders through bilateral and multilateral projects, field meetings, and public discussion platforms. He emphasized that the creation of the Coordination Group represents a significant advancement in strategic coordination and participation. Moving forward, the aim is to establish operational discussion platforms and thematic working groups involving multiple institutions to address specific issues.
Mammadov also stated that initiatives discussed within the Coordination Group will be submitted to the Commission on Business Environment and International Ratings of the Republic of Azerbaijan, contributing to the improvement of the national business environment and enhancing international rankings.
The meeting featured presentations on the financial challenges faced by businesses, the efficient organization of G2B services in SME houses, and the coordination of activities with state institutions for newly established SME houses. Discussions also included proposals from state institutions.
Members of the Coordination Group had the opportunity to explore the facilities at the "Baku SME House," which provides G2B and B2B services to entrepreneurs.