(MENAFN- AzerNews)
Nazrin Abdul
Read more
In recent years, Azerbaijan has progressively adopted the
principles of the green economy. This year, the nation has
officially designated it as the "Year of Solidarity for the Green
World." Additionally, Baku will host the COP29 conference in
November. The agenda for this year includes the expansion of
renewable and clean energy capacities and the development of "green
energy" infrastructure.
Small and medium-sized enterprises (SMEs) play a crucial role in
these initiatives. The Small and Medium Business Development Agency
(SMB), operating under the Ministry of Economy, is dedicated to
enhancing the contribution of SMEs to Azerbaijan's green economy.
The agency supports the growth of alternative energy within the
framework of national priorities extending to 2030.
To underscore ongoing efforts in this area, a conference titled
"The Role of Small and Medium Business in the Green Economy" was
held on September 9 in Baku. Supported by the Ministries of Economy
and Ecology and Natural Resources, and organized by the SMB, the
event highlighted the sector's importance.
Minister of Economy Mikayil Jabbarov emphasized the growing
significance of SMEs in Azerbaijan's socio-economic development. He
noted that SMEs contribute significantly to GDP, job creation, and
the economic revitalization of previously liberated areas. "In this
new era, SMEs must actively participate in the development of the
green economy, which has become an essential trend," Jabbarov
stated.
He further explained that SMEs, which constitute over 99% of
businesses in Azerbaijan, are pivotal for green growth. Many SMEs
operate in high-emission sectors such as construction,
transportation, and energy. Thus, their adoption of
energy-efficient technologies and practices is vital for enhancing
competitiveness. "Global experience shows that SMEs are often at
the forefront of clean technologies and innovative business models.
Their agility allows them to quickly adapt to new trends and
incorporate innovations, making them integral to the green
economy," Jabbarov added.
The minister also underscored the importance of energy
efficiency, achieved through energy-saving technologies and
renewable energy sources. He emphasized the need for ongoing human
resource development and personnel training to implement these
innovations effectively. Additionally, effective waste management,
including recycling and using eco-friendly materials, is crucial.
Developing environmentally friendly products and services, along
with adhering to social responsibility and integrating
environmental considerations into business practices, are essential
for modern entrepreneurs.
"Green businesses" are crucial for sustainable production and
resource optimization. Jabbarov pointed out that green projects
contribute to both economic and environmental sustainability. "A
favorable regulatory environment for green business is being
established, with various support mechanisms already in place," he
said.
Recent tax policies reflect this shift, including tax incentives
for environmental protection, restrictions on the import of older
vehicles, and support for electric and hybrid cars. The government
is also exploring ecological taxes and carbon pricing to further
reduce emissions and support green technologies.
Industrial parks like the Balakhani Industrial Park, which
specializes in waste recycling, exemplify efforts to support the
green economy. These parks aim to enhance high-tech industrial
production, develop the non-oil sector, boost employment, and
improve environmental conditions in Baku and its surrounding
areas.
The Entrepreneurship Development Fund supports "green projects"
with preferential loans for initiatives in recycling, alternative
energy, and electric vehicle infrastructure. Additionally, the SMB
provides grants, startup certificates, market research, training,
and access to exhibitions.
Jabbarov encouraged SMEs to actively engage with the
opportunities offered by innovative initiatives and state support.
"Green energy projects are vital for regional and global economic,
ecological, and energy security," he affirmed.
KOBIA actively promotes companies engaged in green energy and
recycling by facilitating their participation in both local and
international exhibitions. The agency provides comprehensive
support throughout the business lifecycle, including assistance
with establishment, growth, tax and customs benefits,
infrastructure support, and subsidies. The Small and Medium
Business Development Agency (SMB) is dedicated to advancing state
policies, enhancing operational efficiency, and offering
institutional support to nurture the development of both new and
existing SMEs.
MENAFN09092024000195011045ID1108651956
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.