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BP to support local SMBs 13.03.23

KOBİA and BP are set to cooperate in projects on supporting entrepreneurship in the republic, and two new projects will be executed to promote the development of young entrepreneurs and agrotourism in the regions.

The Small and Medium Business Development Agency (KOBİA) and BP signed a new Memorandum of Understanding (MoU) on cooperation. The document was signed by the Chairman of the Board of KOBİA, Orkhan Mammadov, and Bakhtiyar Aslanbeyli, vice president for the Caspian region, communications and external affairs of BP.

In this sense, at the event held on March 13 at "Baku SMB House", it was pointed out that the new document is an extension of the efficient cooperation between KOBİA and BP. Pursuant to the memorandum, KOBİA and BP will become joint partners on projects on supporting entrepreneurship in our country.

The Chairman of the Board of KOBİA Orkhan Mammadov spoke at the event: "KOBİA executes joint projects with various agencies and organizations in the regions towards developing the micro and small entrepreneurship and their support. The projects that will be implemented as part of cooperation with BP will also yield a positive impact on raising the profitability of local communities in the regions, and will pave the way for the establishment of new businesses and self-employment. This collaborative format can also be piloted accross other projects as well. We are convinced that our cooperation with BP will make a significant contribution to the development of small and medium enterprises and the expansion of their activities."

Bakhtiyar Aslanbeyli, vice president for the Caspian region, communications and external affairs of BP, stated that the new memorandum of understanding exhibits continuous endeavours to support the development of local business entities:

"Our Entrepreneurship Development Program project has been successful in gathering all stakeholders working to boost the potential of local enterprises. The program has paved the way for an impeccable opportunity for local enterprises to achieve international standards and compete for supply contracts. We are wrapping up this project and starting a new joint undertaking with KOBİA. Due this partnership, we intend to further improve the success of the Entrepreneurship Development Program. We are proud of the results we have made over the past 15 years by the virtue of investing in the development of local entrepreneurship, and we believe that there will be additional opportunities in the future to extend our support in this field."

As part of the event, information on two new projects that will be executed jointly with the support of KOBİA and BP will also be provided. It must be noted that one of the projects will be carried out in the districts of Samukh, Goranboy and Shamkir with in an effort supporting the development of young entrepreneurs in rural areas. Within the scope of the project, young people from low-income families who are interested in entrepreneurship will be selected and trained for future business endeavours. Young people who will successfully complete the training will be presented the required assets to start their small business, and mentor support will be rendered to them. The project will be executed by the "Support to Rural Development" Public Union. Another project aims to support the development of agrotourism in Tovuz district. The project will usher in business and employment opportunities for selected low-income families residing in this district. As part of the project, training will be held for the staff of seven business entities operating in agrotourism, mentoring support will be provided, and those enterprises will be given necessary equipment. Apart from these, if necessary, support will be given for the repair of those business facilities. The project will be executed by the Regional Development Public Union.

At the event, the representatives of "Ekvita", "Support to Rural Development" and Regional Development public unions s informed on the above-mentioned projects.