SMB

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Today International Day of Micro, Small and Medium-sized Enterprises is marked An exhibition showcasing products and services from over 150 domestic companies is currently underway. The product of artificial intelligence for intelligent search has been developed in Azerbaijan. The "Investment Journey" event took place this time in the city of Sheki Meeting with Students of Baku Business University The "Advertising Exhibition of Local Companies" launches Importance of applying Environmental, Social, and Corporate governance principles for business Exhibition-sale fairs will be held in the regions of the country A document was signed between KOBİA and the Belarusian Chamber of Commerce and Industry The number of entities awarded with the "Startup" certificate has reached 151

Production started at the enterprises established with the support of SMBDA 19.06.20

The Gobu Park 3 residential complex has started production of toys and medical supplies established with the support of the Small and Medium Business Development Agency (SMBDA) of the Republic of Azerbaijan.

The toy factory produces circa 1,000 soft toys daily in 15-20 varieties and about 500 plastic toys in 10 varieties. The medical equipment factory produces 600-700 pieces of uniform and apparel for patients and medical staff, 150-200 pieces of sterile surgical kits, about 5,000 medical masks, 100,000-150,000 shoe covers and other medical supplies.

At present, the toy factory and the medical equipment factory employs about 10 and 20 people respectively.

The products produced by these companies will soon be sold under the brands Tutu Toys and Gill med.

SMBDA provided support to entrepreneurs to establish both enterprises, such as conducting internal market research in the areas of business planning, registration and organization, development of business plans, company registration, training for staff, access to financial resources. Enterprises are exempted from rental costs.

Both companies are business and socially oriented and produce competitive product with potential to replace imports. Along with the domestic market, the products will be exported to foreign markets in the future. The company employs refugees and IDPs living in the Gobu Park 3 residential complex. Upon completion of the settlement in the residential complex, the number of employees in the toy factory and medical equipment factory will increase to 40 and 80 respectively. In general, 80% of the employees will be refugees and IDPs.

The production of toys and medical supplies began on May 28 this year with the participation of President Ilham Aliyev and First Lady Mehriban Aliyeva during the opening of the Gobu Park-3 residential complex in the Garadagh district of Baku.

An agreement on cooperation was signed in January 2020 between BIRGE LLC established by the Agency and the relevant department of the Committee within the framework of cooperation between SMBDA and the State Committee for Refugees and Internally Displaced Persons to ensure the employment of IDPs and refugees through business projects.