UAE to invest $10M in development of SMEs in Azerbaijan (PHOTO)
Baku, Azerbaijan, June 13
By Jeyhun Alakbarov – Trend:
The UAE’s Omni World Holdings Limited company will invest $10 million at the first stage in the implementation of projects in the field of small and medium-sized enterprises (SMEs) in Azerbaijan, in connection with which representatives of the Agency for Development of Small and Medium-sized Enterprises (SMEs) of Azerbaijan and the aforementioned company held a meeting where opportunities for cooperation were discussed, Trend reports.
A memorandum of cooperation was signed during the meeting between the two parties.
The document was signed by the chairman of the board of the Agency Orkhan Mammadov and the head of Omni World Holdings Limited Eric Alfred Schaer.
According to the document, the Emirati company will invest in potential projects in the field of tourism, agriculture, information technology, health and other sectors of the economy.
"A favorable business and investment environment has been created in the country thanks to the targeted reforms of the President of Azerbaijan. Attracting foreign investors is of great importance in terms of diversifying the economy, including the development of small and medium-sized enterprises," Mammadov said.
In turn, Schaer noted that a favorable investment environment has been created in Azerbaijan, with special emphasis on the development of SMEs.
Omni World Holdings Limited is interested in implementing projects in the field of SMEs in Azerbaijan, and is ready to cooperate in this direction with Azerbaijan’s SME Development Agency.