Azernews.Az

Nazrin Abdul

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Orkhan Mammadov, Chairman of the Small and Medium Business Development Agency (SMBDA), emphasized that today's economic progress relies not on capital or natural resources, but on human intelligence and innovation.

Azernews reports that he made this statement at the Human Development Forum in Baku.

Mammadov stressed that forming highly competitive human capital is a top priority for every country. He noted that successful and sustainable economic growth in various nations has been driven by the deliberate development of human capital, with knowledge and skills becoming the main economic resources.

He highlighted the ongoing efforts in Azerbaijan to improve the business environment, with significant reforms already implemented. The "Human Capital" Working Group, which includes representatives from SMEs, aims to develop human capital and improve international rankings. These efforts are crucial in shaping strategic decisions and practical solutions.

Mammadov also emphasized the importance of fostering an entrepreneurial mindset, which promotes creativity, risk-taking, problem-solving, and independence, starting from an early age. He believes that the development of entrepreneurial skills is key to the country's economic growth. Additionally, he noted that the active involvement of educational institutions is vital in promoting business activity, innovation, and social responsibility.