By Ayya Lmahamad

Agency for Small and Medium-Sized Business Development with the support from the Energy Regulatory Agency hosted a webinar for entrepreneurs on the Public-Private Partnership (PPP) applications in the electric power industry and opportunities for small and medium-sized businesses, the Agency has reported.

The event was aimed to provide information on business opportunities in the energy sector, to encourage active participation of entrepreneurs in projects in this sector, to attract private investment through the application of PPP mechanism in energy production, and encourage more active participation of SMBs in such projects.

Chairman of the Board for Small and Medium-Sized Business Development Orkhan Mammadov noted that in line with the challenges of the new era, digitalization of SMBs and support for the green economy in the post-pandemic period have been placed on the Agency’s agenda as a new priority.

It was noted that one of the important elements of the economic development strategy in the post-pandemic period is the increased application of the PPP mechanism.

Briefing the participants on the PPP mechanism, the chairman of the agency underlined that the electricity sector is one of the fiels where PPP models are widely used in international practice.

Commenting on restoring Azerbaijan’s liberated territories, it was noted that the possibility of applying the PPP mechanism in large-scale reconstructing projects will be considered.

Moreover, entrepreneurs wishing to open a business in the liberated territories can also submit their business projects to the Agency.

Chairman of the Board of the Energy Regulatory Agency Samir Akhundov noted that since its establishment, the Agency has participated in the regulation of the energy market and the preparation of many draft laws. In addition to conducting market research, the agency established close cooperation with many international energy organizations and financial institutions and foreign regulators.

Additionally, it was noted that the work to be done in this direction will create opportunities for the formation of individual entrepreneurship and investment in the energy sector.

The Small and Medium Business Development Agency of the Republic of Azerbaijan was established under the Azerbaijani presidential decree dated December 28, 2017.

As a legal entity under the Ministry of Economy, the agency is authorized to support the development of small and medium businesses (SMBs) in the country by providing SMBs with a number of services as well as ensuring coordination and regulation of services rendered by government entities to SMBs.

The Azerbaijani Energy Regulatory Agency is a public legal entity established under the Energy Ministry in accordance with the presidential decree dated December 27, 2017. The electricity, heating and gas supplies fields are defined as main activities of the Azerbaijan Energy Regulatory Agency.