11:55 - 9.09.2024

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September 9, Fineko/abc.az. The role of small and medium-sized businesses (SMEs) in country’s socio-economic growth of the country is increasing in Azerbaijan.

ABC.AZ reports that Economy Minister Mikayil Jabbarov said this at the conference "The role of SMEs in the green economy" in Baku.

Jabbarov stressed that SMEs make an important contribution to the growth of GDP, creation of new jobs, employment growth, as well as to the process of economic reintegration of the liberated territories. He added that it is also important to ensure participation of SMEs in development of a "green" economy.

"Currently, more than 99% of enterprises in our country are SMEs. In this regard, the transition to a "green" economy largely depends on the "green" transformation of SMEs," he added.

Jabbarov noted that the flexibility of SMEs allows them to adapt much faster to new trends and master innovations.

"They can quickly respond to changes in the market and consumer preferences, which is an important factor for greening the economy," he said.