TODAY.AZ / Business

New mechanisms to support SMEs to be created in country

12 July 2018 [17:39] - TODAY.AZ

By Azernews

By Sara Israfilbayova

A number of new mechanisms will be created under the Economy Ministry of Azerbaijan to support the activities of the Agency for the Development of Small and Medium-Sized Enterprises.

Chairman of the Board of the Agency for the Development of Small and Medium-Sized Enterprises Orkhan Mammadov made the remarks during the CEO of Lunch Baku, organized by the Caspian European Club.

Mammadov stressed that the Agency and the Caspian European Club had established an active cooperation within a short span of time.

He shared with the meeting participations the novelties introduced by the country’s president latest decree “On guaranteeing the activity of the Agency for Small and Medium Entrepreneurship Development of the Azerbaijan Republic”, as well as tasks associated with the execution of this decree.

It was pointed out that the Agency’s mission to ensure sustainable development of the small and medium business, increase its role in the country’s economy via improvement of the favorable business climate, ensuring of easy and comfortable access for the small and medium enterprises to numerous support measures.

Presenting an Honorary Membership Certificate of the Caspian European Club to Orkhan Mammadov, Telman Aliyev, Chief Executive Officer of Caspian European Club thanked him for active participation at ??? Lunch Baku, as well as for attention to proposals and requests expressed by the members of the Caspian European Club in the course of the event. He noted that the companies obtained answers to their questions at the event and discussed ways of cooperation in this area.

According to him, over 1,500 delegates will attend Caspian Energy Forum Baku– 2018. Heads of public structures, ministries, state committees, public agencies, state services, as well as heads of public and trans-national companies of the Caspian-Black Sea and Baltic region states, international financial institutions, leading analytical centers, investment companies and rating agencies, as well as representatives of diplomatic and international missions accredited in Azerbaijan will be among them.

The Caspian European Club, which brings together more than 5,000 member companies and organizations from 70 countries around the world, was established in June 2002 with the support of the largest oil and gas companies working in the Caspian-Black Sea region and with the active involvement of the Caspian Energy International Media Group. The Caspian American Club (established in December 2016) and Caspian Asian Club (this January) will be managed by the Members of the Board of the Caspian European Club for two years. All companies that join the Caspian European Club as members get an automatic membership within the Caspian American Club, Caspian Asian Club and vice-versa.

About 100 companies and organization have attended CEO Lunch Baku.

In late 2017, the Agency for Development of Small and Medium-Sized Enterprises under the Ministry of Economy was created by presidential decree, in accordance to which the Agency is a public legal entity that supports the development of small and medium-sized businesses in the country, provides a range of services to the SMEs, coordinates and regulates the services of state bodies in this field.

Small and medium-sized entrepreneurship houses will operate at the ASAN Service centers. These houses will operate at the regional departments of the Economy Ministry in those districts of the country where the ASAN Service centers are not available. The SME houses will be controlled by the Agency for Development of Small and Medium-Sized Enterprises.

The SME houses will render a range of services, including training, consulting, information, financial and other services.


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