Azerbaijani expert: Reconstruction efforts in Karabakh create new business opportunities

Chairman of the Board of the Small and Medium Business Development Agency of the Azerbaijan Republic (SMBDA) Orkhan Mammadov has said that the liberation of Karabakh region, which had been under Armenian occupation for 30 years, not only marked a significant event for Azerbaijan but also spurred investment attraction. 

Mammadov made these remarks at a meeting on the Azerbaijan-US relations, the business environment, and investment attraction in Washington, Caliber.Az reports, citing local media. 

The event was organised by the Azerbaijani embassy in the US, the Washington Intergovernmental Professional Group, and the World Trade Centre. Mammadov highlighted that the large-scale reconstruction efforts in Karabakh and the return of businesses to the region are creating attractive opportunities for entrepreneurs.

“The government's comprehensive incentive package for the region has further boosted business interest. Currently, SMBDA is accepting project proposals from both local and foreign entrepreneurs interested in starting businesses in Karabakh. So far, around 2,300 applications have been submitted, including over 500 from foreign investors. Among the applicants are four US companies and other investors. I am confident that after today's event, some entrepreneurs will take a closer look at the investment opportunities in Karabakh and Azerbaijan,” he added.

By Naila Huseynova