The Charter of the Agency for the Development of Small and Medium-Sized Businesses, Promotion of Investments and Exports Has Been Approved
President Ilham Aliyev has approved the Charter and structure of the Agency for the Development of Small and Medium-Sized Businesses, Promotion of Investments and Exports under the Ministry of Economy.
Startup.az reports that the head of state signed a new decree in this regard.
The Cabinet of Ministers has been tasked with resolving the issues arising from the decree.
Central executive authorities, public legal entities established by the President or the Cabinet of Ministers that are authorized under their charters to participate in drafting regulatory legal acts, as well as state-owned legal entities and legal entities in which the controlling stake (shares) is owned by the state, must ensure that draft regulatory legal acts they prepare that may affect micro, small and medium-sized entrepreneurship, investment and export activities are coordinated with the Agency for the Development of Small and Medium-Sized Businesses, Promotion of Investments and Exports before being submitted to the relevant legislative body, in accordance with Article 46 of the Constitutional Law “On Normative Legal Acts.”
Central executive authorities must also ensure that regulatory legal acts adopted by them in the aforementioned areas are coordinated with the Agency before their adoption.
The decree will enter into force on October 1.
The Agency for the Development of Small and Medium-Sized Businesses, Promotion of Investments and Exports is an entity within the structure of the Ministry of Economy that supports the development of micro, small and medium-sized businesses, promotes investment and exports in the non-oil and gas sector, participates in protecting the interests of business entities, and coordinates services provided by state bodies and entrepreneurs in these areas.
In its activities, the Agency is guided by the Constitution, international treaties to which Azerbaijan is a party, national laws, the Charter of the Ministry of Economy, its own Charter, other presidential decrees and orders, decisions and orders of the Cabinet of Ministers, as well as legal acts of the Ministry.
In carrying out its duties and exercising its rights, the Agency cooperates with other state bodies and institutions, local self-government bodies, international and non-governmental organizations, as well as other legal entities and individuals.
The Agency has an independent balance sheet, state property under its use, treasury and bank accounts, a seal bearing the image of the State Emblem and its name, an official seal for administrative correspondence, as well as relevant stamps and letterheads.
The Agency’s operating and maintenance expenses, as well as its material and technical support, are financed from the state budget, extra-budgetary funds where provided for by regulatory legal acts, and other sources stipulated by law.
The Agency is located in Baku.