TODAY.AZ / Business

SMEs Development Agency encourages production of pharmaceutical products

21 September 2019 [10:09] - TODAY.AZ
By Azernews

By Rasana Gasimova

As part of its work to stimulate micro-, small- and medium-sized businesses, the Agency for the Development of Small and Medium-sized Enterprises (SMEs) in Azerbaijan has offered entrepreneurs to organize the production of pharmaceutical products in Pirallahi industrial park, Orkhan Mammadov, the chairman of the board of the Agency, Trend reported.

Mammadov noted that there is strong demand for creating active public associations in order to develop the pharmaceutical production sector and the health business, adding that the Agency is ready to support such initiatives.

He noted that the recently launched mechanism for studying the domestic market can be used to conduct market research in health and pharmaceutical sectors: “In case of such appeals, the Agency can provide support to business entities,” Mammadov said.

Mammadov made the remarks during the business forum titled "Medical Business Forum: current sitaution and future prospects" held on 20 September.

The Pirallahi industrial park was created by the order of the President of Azerbaijan Ilham Aliyev dated September 14, 2016. The park covers the area of 30 hectares. Five companies have the status of residents. Currently, the production of syringes in the park is carried out by “Diamed CO”. The remaining four enterprises are under construction.

The main task of the SMEs Development Agency is ensuring the succession of reforms, improvement of the business regulation system, and application of effective coordination, enhancing the role and competitiveness of SMEs in the country's economy, as well as the compliance of the management system in this area with modern requirements.

The SMEs accounted for 76 percent of employment in the country in 2018, and in recent years, comprehensive work has been carried out for the development of SMEs. In particular, inspections of business entities have been suspended and the process of obtaining licenses has been simplified.

The share of SMEs in Azerbaijan's foreign trade is planned to increase to 40 percent after 2025.

Agency’s stand 'Best social project award’ won at the 2nd Azerbaijan International Exhibition of Gifts and Promo Items (Gift & Promo 2019) held in Baku on September 12-14.


Print version

Views: 579

Connect with us. Get latest news and updates.

Recommend news to friend

  • Your name:
  • Your e-mail:
  • Friend's name:
  • Friend's e-mail: