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Azerbaijani banking community eyeing dev't of entrepreneurial ecosystem in liberated territories

Economy Materials 22 January 2021 15:35
Azerbaijani banking community eyeing dev't of entrepreneurial ecosystem in liberated territories

BAKU, Azerbaijan, Jan. 22

By Zeyni Jafarov, Nargiz Sadikhova - Trend:

The banking community of Azerbaijan is interested in taking the necessary measures to develop and support the entrepreneurial ecosystem in the liberated territories, PASHA Bank CEO and Board Chairman Taleh Kazimov told Trend on Jan.22.

Kazimov said that Azerbaijan’s achievement of victory in the 44-day Patriotic War for the liberation of its lands from the Armenian occupation in late 2020 gives grounds for positive outlooks on the future of the country's banking sector.

According to Kazimov, the lands liberated from occupation have great potential in terms of farming, mining of precious metals, development of transport and logistics, tourism and hospitality, in a word, the entire real sector of the economy.

"For this reason, both local and foreign investors will be interested in setting up their business in these territories. Therefore, we can say with confidence that these territories will eventually turn into a large business center of Azerbaijan," he said.

According to the CEO, at the initial stage, restoration work will be carried out on these lands. This provides for the creation of a common infrastructure and primary living conditions. The special focus will be on the construction of social houses, the rehabilitation and construction of roads, railways, and airports. At the next stage, there will be a transition to large-scale economic development projects.

"The main task of financial institutions in this period is to provide entrepreneurs with the necessary support," he noted.

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