Azerbaijan’s SMBDA talks number of applications received from companies to participate in restoration of liberated territories (Exclusive) (VIDEO)

Economy Materials 20 November 2021 08:00 (UTC +04:00)
Azerbaijan’s SMBDA talks number of applications received from companies to participate in restoration of liberated territories (Exclusive) (VIDEO)

BAKU, Azerbaijan, Nov. 19

By Sadraddin Aghjayev - Trend:

Small and Medium Business Development Agency of Azerbaijan (SMBDA) has received about 900 applications from local and foreign companies to participate in restoration work in the liberated territories, the chairman of the Agency Orkhan Mammadov told Trend.

According to Mammadov, the agency takes a very active part in the processes of attracting local and foreign companies to the restoration of the liberated territories.

“Today we have about 900 applications from local and foreign companies for participation in restoration work and business projects,” he said.

The chairman of the Agency noted that foreign companies are also actively involved in the process.

“Turkish companies are already involved in infrastructure projects in Karabakh. They are very successful in implementing infrastructure projects. Our agency constantly informs foreign companies and investors about Azerbaijan's potential and participation opportunities. The entrepreneurs who come to Azerbaijan with a business mission are informed in detail,” Mammadov said.

He also said that holding international events in Azerbaijan opens up new opportunities for the country and helps to attract foreign direct investment.

“B2B meetings of our agency with Russian companies that visited Azerbaijan as part of a business mission were dedicated to the development of a" smart city ". We have already been able to determine the range of issues in these areas and viewed the presentations of the Russian side. We also presented the concept of "smart village" was and exchanged experience. In addition, representatives of KAMAZ PJSC, Russian Railways Logistics and some others visited Azerbaijan. In the field of logistics, a wide range of issues was discussed between the companies of our countries. I believe that we have great opportunities for cooperation in railway projects. For example, we can note the Agroexpress project, which has been discussed for a long time, and today the parties are starting to launch it,” Mammadov said.

In addition, Mammadov noted that the SMBDA and the Russian Export Center signed a memorandum of understanding.

“I believe that this document will allow our entrepreneurs to use the services provided by the Russian side. First, it is worth noting the preferential financial support that ROSEXIMBANK JSC can provide to Azerbaijani entrepreneurs cooperating with Russia. I consider this entire spectrum to be quite voluminous, and I also see opportunities for our entrepreneurs to further use these tools,” he said.

He stressed that the Russian side has great opportunities to implement its projects in the Azerbaijani market.

Mammadov also recalled that the International Business Forum (IBF) was recently held in Baku.

“I consider all the events, business forums held in Azerbaijan successful. The visits of foreign delegations and the holding of bilateral meetings with local entrepreneurs are very useful not only for business entities but also for countries in general. The 25th-anniversary business forum, organized in Baku with the support of the Azerbaijani Ministry of Economy and the Turkish Ministry of Trade, was quite productive. More than 500 entrepreneurs from 30 countries of the world have visited Azerbaijan. These entrepreneurs were pleasantly surprised by the development of Azerbaijan, the investment opportunities of the country. Of course, such international events will only strengthen bilateral cooperation, enhance capabilities and attract foreign investments to the country,” Mammadov said.


Follow the author on Twitter: agdzhaev