KOBIA: New opportunities for business development to be created in post-pandemic period

A new strategy for socio-economic development, covering 2022-2026, will create new opportunities in terms of further business development in the post-pandemic period, Orkhan Mammadov, chairman of the Small and Medium Business Development Agency (KOBIA) under the Economy Ministry, told "The Role of Entrepreneurship in the Development of the Economy" conference, held to mark the Day of the Entrepreneurs, according to Report.

"The COVID-19 pandemic, the 44-day Patriotic War, naturally, had a certain negative impact on the activities of the entrepreneurs. On behalf of the president, during this difficult period, the state extended a helping hand to entrepreneurs. For this, adequate economic support packages were formed and presented to entrepreneurs," Orxan Mammadov said.

He stressed that the Azerbaijani government has taken a set of measures to minimize the negative impact of the pandemic and stimulate economic growth, and these measures are still ongoing.

“It was as a result of purposeful activities that last year saw an increase in the total turnover of micro-enterprises by 31%, small businesses - by 79%, and medium-sized businesses - by 139%," he said.