Orkhan Mammadov: SMEs created over 70% of total products and services in agricultural sector

24.11.2022,16:36


November 24, Fineko/abc.az. More than 70% of the total value of goods and services produced in the agricultural sector was created by SMEs, and businesses from this category invested up to 190 million manats ($111.8 million) in fixed capital in the sector this year.

ABC.AZ reports that Orkhan Mammadov, chairman of the board of the Small & Medium Business Development Agency (SMBDA) under the Ministry of Economy, said this at the Baku conference dedicated to project "Promotion of agrotourism, agribusiness and food production through consulting services, as well as the creation & development of new value chains".

"Taking into account the importance of food security, SMBDA pays special attention to the development of business entities operating in the agricultural sector. Based on the results of our analyzes and conducted field meetings, we can say that the implementation of the agrarian insurance mechanism, difficulties related to irrigation water, access to quality agronomist and other consulting services, the need to improve subsidy and other financing mechanisms, difficulties in documentation procedures in the field of food safety, technological equipment wear and tear, access to markets are the main issues that concern entrepreneurs operating in the agricultural sector. Within the mandate of SMBDA, it provides a number of support mechanisms to businesses operating in various sectors, including the agribusiness sphere. Among them, support for internal market studies, giving of grants for science, research, support and innovative programs, experience exchange programs, and others can be noted," Mammadov said.