Local entrepreneurs in Azerbaijan actively apply for business in liberated lands

So far, the Small and Medium Business Development Agency (KOBIA) under the Ministry of Economy of Azerbaijan has received about 1,500 applications from entrepreneurs who want to establish a business and invest in the liberated territories of Azerbaijan, of which about 70 percent are applications from local business entities.

Report informs that the statement came from KOBIA on June 27.

“In order to support the improvement of the financial capabilities of small and medium-sized businesses (SMEs), the Small and Medium Business Development Agency also provided more than 750,000 manats ($441,000) of grants to 39 SMEs under the mechanism for financing projects in the fields of education, science, and research.

In order to support the entry of small and medium-sized enterprises into the markets on a gratuitous basis, the participation of about 1.3 thousand SMEs in 50 exhibitions and fairs in Azerbaijan and foreign countries was ensured, the sale of products of 25 entrepreneurs in various retail chains was ensured,” the information says.

It is noted that the number of SME centres in which entrepreneurs are provided with services has reached three, and the number of services provided to business entities in these centers has exceeded 300,000.
Appropriate measures are being taken to create hubs for SMEs in other large cities and regions of Azerbaijan, as well as in the territories liberated from occupation.

So far, about 370 field meetings and educational events have been organized within the framework of the "KOB dostu" (SME friend) mechanism with the participation of about 17 thousand entrepreneurs.