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Appeals received from Turkiye, Kazakhstan, Hungary, and Russia for establishing business in Azerbaijan’s liberated areas: KOBIA

Orkhan Mammadov, Chairman of the Board of the Small and Medium Business Development Agency

19 January 2023 12:00 (UTC +04:00)

“As of January 1, 2023, 1339 appeals were submitted from entrepreneurs wanting to set up business in the liberated areas from the occupation,” said Orkhan Mammadov, Chairman of the Board of the Small and Medium Business Development Agency (KOBIA), Orkhan Mammadov, APA-Economics reports.

According to him, 873 of appeals belong to local investors, while 466 belong to investors from 37 foreign countries.

“Among the appeals of foreign investors appeals from Turkiye, Kazakhstan, Hungary, and Russia prevail. 90 percent of investment projects are local, and 10% are investment projects of foreign entrepreneurs. 36% of the applications for investment projects cover trade and services, 27% industry, 26% agriculture, and another 11% construction, tourism, health, education, and culture,” he said