SMB

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About 50% of applications for investment in Karabakh came from the Turkic Council member countries 10.09.21

To date, ARMSB has received about 220 applications from local and foreign investors interested in implementing projects in the liberated territories. About 50% of these applications came from the Turkic Council member and observer countries. Most of them are Turkish investors. This interest is not accidental since Karabakh offers wide business opportunities.

The chairman of the Board of the Small and Medium Business Development Agency (ARMSB) Orkhan Mammadov stated this at the Business Forum on the restoration and development of the liberated Karabakh region as part of the meeting of the ministers of economy of the member countries of the Cooperation Council of Turkic-speaking States (CCTS) in Baku. It was noted that bilateral and multilateral cooperation between the Turkic Council member states opens up great opportunities for expanding business partnerships in Karabakh with the participation of small and medium businesses (SMBs). “The opening of the Zangezur corridor connecting Azerbaijan and Turkey will also create new transport hubs and new opportunities in the region, including for SMBs of the Turkic Council member countries. We invite the business community to take advantage of these opportunities. SMBDA is ready to provide foreign investors wishing to invest in Azerbaijan with support in coordination with relevant bodies and search for suitable local partners”, Orkhan Mammadov said.