Azerbaijan to create new business development opportunities in post-COVID-19 period

The new social and economic development strategy covering 2022-2026 will create new opportunities in Azerbaijan in terms of further business development in the post-COVID-19 pandemic period.

Report news agency informs referring to the statement made by Chairman of board of Azerbaijan’s Small and Medium Business Development Agency Orkhan Mammadov at the conference entitled "The Role of Entrepreneurship in Economic Development" which was held in Baku and was dedicated to the Entrepreneurs’ Day - April 25. 

“Of course, the COVID-19 pandemic, the 44-day second Armenia-Azerbaijan Karabakh War, had a certain negative impact on the activity of entrepreneurs,” Mammadov said. “During this difficult period, the government helped entrepreneurs upon the Azerbaijani president’s instructions. For this purpose, significant economic support packages were created and presented to entrepreneurs.” 

The chairman of board stressed that the Azerbaijani government has taken a set of measures to minimize the negative consequences of the COVID-19 pandemic and stimulate economic growth, and these measures are still being taken.

“The total turnover of microenterprises increased by 31 percent, small businesses by 79 percent, medium-sized businesses by 139 percent as a result of purposeful activity in 2021,” Mammadov said.