BAKU, Azerbaijan, April 25. Azerbaijan Small and Medium Business Development Agency (SMBDA) has received over 1,400 applications from entrepreneurs wishing to start a business in the liberated territories, Chairman of the Board of SMBDA Orkhan Mammadov said during an event themed "Heydar Aliyev and development of entrepreneurship in Azerbaijan", Trend reports.
According to Mammadov, about 500 of the total number of applications came from foreign companies.
"The agency is working both to internationally promote the economic potential of Karabakh and to accept applications from business entities wishing to build a business in the liberated territories," he added.
Over the past two years, more than 6.4 billion manat ($3.7 billion) has been allocated from the state budget for the restoration of the liberated territories.
In the state budget for 2023, three billion manat ($1.7 billion) is provided for the restoration of the liberated territories.