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Setting up a business in the liberated territories are of great interest 14.06.22

The State Committee on Work with the Diaspora and ADA University organized a round table on "Development in the South Caucasus in the post-conflict period".

At the event, Chairman of the Board of the Small and Medium Business Development Agency (KOBİA) Orkhan Mammadov informed about the applications received from entrepreneurs wishing to establish a business in Karabakh, and the Agency's activities in this area. It was noted that the rich economic and investment potential of the liberated territories creates conditions for the implementation of new business projects and investment in these areas. Immediately after the victory, KOBİA began accepting applications from entrepreneurs wishing to establish a business in Karabakh. So far, KOBİA has received more than 1,100 applications from entrepreneurs wishing to set up businesses in the liberated territories. Of these, about 500 are investment projects, and more than 650 are related to other work and services. 33% of the applications cover trade and services, 29% industry, 27% agriculture and 11% construction, tourism, health, education and culture. The establishment of the Aghdam Industrial Park and the Araz Valley Economic Zone Industrial Park in Jabrayil will provide a number of important benefits to SMEs, as well as be important in realizing the economic potential of the relevant regions. The introduction of new organizational and economic models for business in the liberated areas is also planned.