Milli Majlis endorsed Law on development of micro, small & medium-sized businesses


December 2, Fineko/ The parliamentarians approved in the 3rd reading the Bill on development of micro, small & medium-sized enterprises.

ABC.AZ reports that the bill was included in today’s agenda of the Milli Majlis plenary session.

The law consists of 5 chapters, 15 articles.

International experience was widely used in drafting of the law.

The goal here is to create favorable ecosystem, stimulate investments and innovations, support market entry, and further increase the share of SMEs in the nonoil employment sector in GDP.

The main directions of the law are servicing SMEs on the spot, optimal tax policy, further simplification of procedures, increasing knowledge and skills, facilitating access to financial resources.