Baku, Azerbaijan, Nov. 6
By Huseyn Hasanov - Trend:
Azerbaijan's High-Tech Park and the Hungarian company DBH will sign a memorandum of understanding to cooperate in venture financing of start-up projects, the High-Tech Park's Deputy Director General Jabbar Musayev told Trend Nov. 6.
The High-Tech Park has been made part of the Azerbaijani Communications and High Technologies Ministry.
Musayev said it is expected that the document will be signed during an economic forum to be held next week in Hungary.
"The main directions of cooperation specified in the memorandum include the cooperation in the venture financing, creation of joint investment opportunities, and funding of promising start-up projects," he said.
Musayev went on to say the DBH has extensive experience in management of funds meant for support of start-up projects.
"Aside from that, the company acts as an investor in the construction of industrial parks in several countries," he added.
The High-Tech Park LLC passed the state registration in Azerbaijan. The Azerbaijani State Committee for Property Issues approved its charter and meetings were held with potential foreign investors and companies.
It is expected that the ICT sector in Azerbaijan will expand, and the creation of modern research facilities and development of new information technologies will be ensured with the start of activities of the High-Tech Park.
The park will play an important role in the sustainable development of the economy and competitiveness in Azerbaijan.
Edited by CN