SMB

We believe Azerbaijan’s socio-economic development is closely linked with entrepreneurship and its future development!

The most active entrepreneurs of 2024 have been awarded A citizen reception was held at KOBİA Results of the 6th grant competition announced for financing projects by SMB entities have been disclosed A memorandum on the green transition of SMBs signed between KOBİA and the Asian Development Bank Business forum conducted within the framework of the project "Increasing attractiveness of the Shamakhi district for private Investments" New Startups Contributing to Digitalization The 9th "KOB Fest" exhibition -sales fair is underway in Göyçay With the support of KOBİA, Azerbaijani entrepreneurs' products were showcased at the "MÜSİAD EXPO" and "Halal Expo" exhibitions Yet another meeting of the sub-group on Environmental, Social, and Corporate Governance (ESG) standards was held 8 more SMBs have received the "Startup" certificate

First investment promotion documents of 2024 presented to entrepreneurs 05.02.24

Three projects that have obtained investment promotion documents will be implemented, resulting in the investment of 20.3 million manats in local industry and the creation of almost 60 new workplaces.

Investment promotion documents were presented to 3 entrepreneurs at Baku SMB House. Projects that have received investment promotion documents will be implemented in Gusar, Imishli and Samukh districts, in food production. Investment promotion documents were presented to these following projects: "Production and packaging of fruit juice" of "VVE GROVV" LLC, "Construction of a barley malt production plant applying innovative technology and production of high-quality barley malt raw materials" of "Promalt" LLC, and "Organization of processing of various fruits" of "Fruit Agro" CJSC.

Approximately 20.3 million manats will be invested in local production as a result of the projects with the investment promotion document being implemented, and over 60 new workplaces will be created.

The investment promotion document that secures benefits to legal entities and individual business owners set forth in the Tax Code of the Republic of Azerbaijan and the Law "On Customs Tariff". For a period of seven years, entrepreneurs who have obtained an investment promotion certificate are exempted from profit and 50 % of income tax, property and land taxes, customs duties, and VAT on the import of hardware, technological equipment, and machinery.

Entrepreneurs are encouraged to apply for an investment promotion document to the Ministry of Economy, as well as to the service window operating in the SMB houses of the ministry (located in the cities of Baku, Khachmaz and Yevlakh).

It is worth highlighting that so far investment promotion documents have been issued for 588 projects of entrepreneurs. This mechanism grants business owners further opportunity to allocate more money to investment initiatives, increase output, and export competitive goods.