One of the main goals under Azerbaijan's Socio-Economic Development Strategy for 2022-2026 is to bring the share of small and medium-sized businesses (SMEs) in the non-oil-and-gas GDP to 35%, and the share of SMEs in employment in the non-oil and gas sector sector up to 60%, Shahmar Movsumov, Assistant to the President, Head of the Department of Economic Affairs and Innovative Development Policy of the Presidential Administration, said at the Dayaq Award ceremony.
"The share of the private sector in Azerbaijan's GDP has reached 83.5% and continues to grow. Currently, more than a quarter of non-oil and gas exports are carried out by SMEs. Their role in the economy has increased dramatically. SMEs account for 99% of business entities. Their share in creation of value added, in employment and investment is growing steadily. Currently, the importance of innovative start-ups is expanding in our country. It is gratifying that SMEs in the country are developing not only in trade, but also in other economic areas, ensuring the use of modern technologies along with goods and services," he noted.
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