Baku, Azerbaijan, Nov. 12
By Huseyn Valiyev - Trend:
Hungarian DBH Group will help to establish investment opportunities and also to support startup companies expand internationally in both Europe and the Caucasus according to the two memoranda signed Nov. 11, during the Hungarian-Azerbaijani Business Forum, the High Tech Park under the Azerbaijani Ministry of Communication and High Technologies told Trend Nov. 12.
Hungarian investment and business services company DBH Group signed two memoranda of understanding with State Fund for Development of Information Technologies in Azerbaijan (ICT Fund) and High Tech Park Azerbaijan (HTP) in Budapest Nov. 11.
According to the memoranda of understanding parties shall cooperate to establish investment opportunities, facilitate the development of Azerbaijani startups and innovative IT and tech enterprises, and also to support startup companies expand internationally by setting up branches of EU-based companies in Azerbaijan and Azerbaijani startups in the EU.
Memoranda were signed by Elchin Zeynalov, Executive Director of the State Fund for Development of Information Technologies in Azerbaijan, Seymur Aghayev, CEO of High Tech Park Azerbaijan and Sándor Erdei, CEO of DBH Group.
"Our goal is to support bilateral relations and create framework to promote participation of the Hungarian companies in joint investments in Azerbaijan," Elchin Zeynalov, Executive Director of the State Fund for Development of Information Technologies in Azerbaijan, said. "The Fund is ready to participate in those projects as equity holder."
"Hopefully Azerbaijan's cooperation with DBH will expedite the country's goals for a faster growing ICT market in Azerbaijan and become the natural hub for European companies willing to cooperate in the surrounding regions of our country as well as expansion of Azerbaijani companies and startups into the global market," Seymur Aghayev, CEO of High Tech Park Azerbaijan added.
"We see strong opportunities in the joint development of startup incubation and business services in Azerbaijan and the surrounding region that is growing at much higher pace than the average of Europe," Sándor Erdei, CEO of DBH said. "So, DBH can also help Azerbaijani startups to build a solid presence in the EU as well."