Small and Medium Business Development, Investment and Export Promotion Agency Established
President Ilham Aliyev has signed a decree on improving governance in the fields of micro, small and medium-sized business development, as well as the promotion of investments and exports.
According to Startup.az, the decree establishes the Agency for SME Development, Investment and Export Promotion under the Ministry of Economy. The new entity is formed on the basis of the Small and Medium Business Development Agency and the Investment and Export Promotion Agency (AZPROMO).
The Agency will support the development of micro, small and medium enterprises, promote investments and exports in the non-oil (gas) sector, protect the interests of entrepreneurs, and coordinate services provided by state bodies and businesses in this area.
The total staffing limit of the Agency is set at 370 positions, including 291 positions in the central office and 79 in regional divisions.
The Cabinet of Ministers has been tasked with preparing and submitting proposals to the President within specified timeframes. Within three months, it must draft the Agency’s charter and structure and propose improvements to the regulatory framework. Within nine months, it is expected to develop mechanisms for gradually transferring certain public services for SMEs, exporters, and investors to private sector entities, as well as to enhance investment and export promotion mechanisms in the non-oil sector.
Additionally, the government must ensure the transfer of state property from the balance of relevant public legal entities to the new Agency within three months, address staffing in accordance with civil service legislation, resolve financing issues within one month, and ensure the Agency’s material and technical support.
Until the Agency’s charter and structure are officially approved, the existing public legal entities will continue their operations.