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MP: Public councils to improve access of SMEs in Azerbaijan to financial markets

(MENAFN - Trend News Agency) Baku, Azerbaijan, May 20

By Matanat Nasibova - Trend:

The development of small and medium-sized enterprises (SMEs) in Azerbaijan is a priority direction of Azerbaijan's state economic policy, chairman of the parliamentary committee on economic policy, industry and entrepreneurship, MP Ziyad Samadzade said,Trendreports.

He made the remarks at a forum on the role of public councils in the development of SMEs.

Samadzade noted that 80 percent of Azerbaijan's economy accounts for the share of the private sector.

"Meanwhile, there are a number of problems in the business sphere that hinder the development of entrepreneurship," he said. "For example, unhealthy competition, shadow economy, etc. These and other factors impede the development of SMEs. As a result, during the year, about 30,000-40,000 business entities cease their activities. Therefore, it is necessary to strengthen the work of public councils operating under the Agency for the Development of SMEs so that they conduct monitoring to remove obstacles hindering the development of favorable business environment in Azerbaijan."

He noted that the revitalization of public councils will significantly improve the access of entrepreneurs to new financial markets, which in turn will enhance the level of SMEs development.


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MP: Public councils to improve access of SMEs in Azerbaijan to financial markets

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