The forum is of great importance from the point of view of realization of industrial potential and discussion of development prospects in this direction, Orhan Mammadov, Executive Director of the Agency for development of small and medium enterprises under the Ministry of economy of Azerbaijan, said at the event.

It was noted that the framework of the forum will not be limited only to the study and exchange of international best practices in the field of industrial engineering, but also it will become an important platform in the direction of the integration of scientific and innovative business ideas in the implementation of industrial potential.

"As you know, the development of small and medium-sized businesses, which is an integral part of the successful economic policy implemented under the leadership of Azerbaijani President Ilham Aliyev, is always in the spotlight, and wide reforms have been carried out in this area. In order to ensure consistency of reforms, as well as to improve the system of regulation of entrepreneurial activity and use of effective coordination, enhancement of the role and competitiveness of small and medium-sized enterprises in the economy of the country, and compliance of the management system of this sphere with the modern requirements of the relevant decree of the President of Azerbaijan, the Ministry of economy has established an Agency for the development of small and medium-sized enterprises," he said.

"The agency, as a single structure with special powers, will organize, coordinate, evaluate and regulate services provided by state bodies and organizations in this sphere through small and medium-sized Business Houses," Mammadov said.

Executive Director of the Agency said that the main objective is to achieve the formation of a more favorable business environment for development of entrepreneurship, competitiveness and role in the economy of small and medium businesses, provision of implementation of work and services in the country, in particular their intellectual part, to a greater extent through the development of small and medium businesses and innovations, increasing the role of small and medium enterprises in providing employment, increasing the share of goods exported by business entities in the total exports of the country. "Following completion of all these measures, the goal has been set to increase the share of small and medium-sized businesses in GDP and employment," he said. It was stressed that the agency was currently in the process of being formed and that effective procedures were being put in place to achieve its objectives.

It was also noted that one of the main activities of the agency will be the development of entrepreneurship of innovative focus. "Despite the fact that progress has been made in this direction in recent years, there are still great opportunities in this area. In order to support the realization of this potential for entrepreneurship, along with General support measures, it is planned to provide a number of services in innovation centers, technological business incubators, and to create organizational models," Mammadov said.

It was noted that close cooperation with scientific and educational centers of the country will be carried out in this direction. From this point of view, great importance is attached to cooperation with Azerbaijan Technological University, which has a transparent and modern management system. (Trend)