BAKU, Azerbaijan, March 13. bp intends to continue its efforts to support the development of Azerbaijan’s business by signing the new memorandum of understanding (MoU) with the Azerbaijani Small and Medium Business Development Agency (SMBDA), Vice President for the Caspian region, Communications and External Affairs Bakhtiyar Aslanbayli said, Trend reports.
Aslanbayli made the remark during a media briefing dedicated to the signing ceremony of the MoU.
"We believe that our Entrepreneurship Development Program project will help broaden the economic base of Azerbaijan and increase the potential of local enterprises. This program has created an excellent opportunity for local enterprises to meet international standards and compete for supply contracts, creating a competitive environment in domestic markets and in the Caspian region as a whole," he noted.
To date, with its co-venturers, bp has invested around $84 billion into projects it operates in Azerbaijan. bp is committed to supporting sustainable development efforts by focusing on those areas where the company can bring the most significant benefit.
Furthermore, bp’s extensive social investment activities and capacity-building efforts in the country have had a positive impact and brought tangible benefits to people, improving their lives and making a difference. The company makes social investments in various fields, including education, community development, local business growth, environmental protection, sports potential, and the research and promotion of the country's rich cultural heritage.
Overall, since the start, bp itself and together with its co-venturers in the joint ventures that bp operates in Azerbaijan has spent around $107 million on social investment projects in the country.