Azerbaijan's Karabakh draws record interest from foreign entrepreneurs

More than 3,700 foreign investors have expressed interest in investing in the liberated territories of Azerbaijan, said Orkhan Mammadov, Chairman of the Board of the Small and Medium Business Development Agency of Azerbaijan (KOBIA).

Mammadov made the announcement as he addressed the 6th Economic Cooperation Organization (ECO) Business Forum, Caliber.Az reports via local media.

Highlighting the region’s growing economic potential, Mammadov emphasized that the territories of Karabakh and East Zangazur are increasingly attracting international attention due to opportunities for development and reconstruction.

“Investors and entrepreneurs are invited not only to Baku, but also to Karabakh and East Zangazur,” he said. “To date, we have received more than 3,700 enquiries from foreign investors willing to invest in these territories.”

The KOBIA Chairman also noted that the broader ECO region, encompassing member states from Central and South Asia to the Caucasus and the Middle East, possesses immense economic potential, particularly for the development of small and medium-sized enterprises (SMEs). “There are the best opportunities for opening small and medium-sized enterprises in our region,” he stated.

Mammadov outlined KOBIA’s role in nurturing innovation-driven, employment-generating businesses that contribute to regional economic integration. “KOBIA is focused on supporting businesses that promote innovation, create jobs and establish regional trade links,” he said. “We have established a network of SME houses and SME offices that provide direct assistance to entrepreneurs—from regulatory advice to partner identification, from start-up training to export support.”

Underscoring Azerbaijan’s commitment to regional cooperation, Mammadov said the country sees significant advantages in strengthening economic ties with ECO member states. He identified key sectors ripe for joint ventures and cross-border collaboration, including agriculture, food processing, logistics, information and communication technologies, and textiles.

“Our goal is to build a strong, competitive SME ecosystem in these regions with the active participation of our international partners,” Mammadov concluded, inviting stakeholders across the ECO region to explore the growing opportunities in Azerbaijan’s reintegrated territories.

By Vafa Guliyeva