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Azerbaijan’s SMBDA chairman talks investments in non-oil sector of Kazakhstan

Economy Materials 7 June 2022 12:24
Azerbaijan’s SMBDA chairman talks investments in non-oil sector of Kazakhstan
Sadraddin Aghjayev
Sadraddin Aghjayev
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BAKU, Azerbaijan, June 7. Azerbaijani investments in Kazakh non-oil sector amounted to more than $200 million from 1995 through 2021, and Kazakhstan’s investments in the non-oil sector of Azerbaijan - about $100 million, Chairman of Small and Medium Business Development Agency (SMBDA) Management Board Orkhan Mammadov said at a business forum held within the framework of Trade and Economic Mission of Kazakhstan’s producers in Baku, Trend reports.

According to him, more than 15,000 companies with foreign capital are registered in Azerbaijan, with some 159 of them - with Kazakh capital (industry, construction, trade, agriculture, transport and services), while Azerbaijani companies are also represented in the Kazakh market.

Mammadov noted that SMBDA attaches great importance to the expansion of ties with specialized organizations of Kazakhstan at the level of government agencies, also directly with the business community.

"We are closely cooperating with the ‘Damu’ Entrepreneurship development fund, also our delegation will take part in "ULTTYQ O`NIM" national exhibition [an exhibition of Kazakh producers], which is held annually in Nur-Sultan city," Mammadov said.

In addition, he noted the current interest in attracting Kazakh business in Azerbaijan.

"Our centers for the development of small and medium-sized businesses (more than 20), providing consulting for small and medium entities (SMEs), conducting trainings and incubation programs provide services to business people. There were about 1,600 trainings for more than 23,000 participants, which showed support for the creation of 76 new entities of SMEs in 2021," said Mammadov.

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