SMB

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

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KOBİA was showcased at the relevant panel of “AIM Congress” in Abu Dhabi 07.05.24

Within the framework of the visit, representatives of KOBİA conducted several meetings and signed a partnership agreement with “AIM Congress”.

The traditional Annual Investment Meeting (AIM) launched in Abu Dhabi, the capital of the United Arab Emirates on May 7. The representatives of the Small and Medium Business Development Agency (KOBİA) paid a visit to Abu Dhabi in order to participate in the event and to exchange views on potential cooperation for SMB development.

The representatives of KOBİA participated in the opening ceremony of the “AIM Congress” and attended the panel session titled "SMBs and foreign investments: challenges and opportunities" which was organized as the part of the event. Mr. Orkhan Mammadov, the Chairman of the Management Board of Agency shared his insights on Azerbaijan's experience with the direct foreign investment potential of SMBs at the panel. It was noted that local SMBs expand their scope to increase sales by accessing to new markets and bolstering their customer bases. However, local SMBs face several challenges in involvement of foreign investment and accessing to new markets. Such challenges faced by small entrepreneurs are mainly related to limited resources, low business knowledge, and serious product requirements in foreign markets.The Agency offers free training sessions for SMBs, provides consulting services, facilitates access to exhibitions, and expands connections with relevant institutions in various countries for addressing those challenges. Within the framework of “AIM Congress”, an exhibition is held where our country is represented with the stand “Invest in Azerbaijan”.

During the visit, the representatives of KOBİA also visited the exhibition and our country's stand. Our stand provides information on the support and services provided by organizations contributing to Azerbaijan's economy, the favorable business and investment environment in our country, and entrepreneurs, including KOBİA.The special program for startups has been organized at the “AIM Congress”. Our country is represented by the startup "Recepta," the winner of the national tour of the “AIM Congress” at the event. The digitalization platform "Recepta," which focuses on digitizing paper receipts, is competing for investments against startups from over 100 countries worldwide. The representatives of KOBİA met with the team of “Recepta” and exchanged views on interest of foreign investors in the project within the framework of the visit.

Within the framework of the visit, the representatives of KOBİA met with Mr. Fabio Rigi, the minister of Industry, Crafts, Trade, and Technological Research of San Marino, Mr. Rahimberdi Jepbarov, Chairman of the Management Board of the State Bank for Foreign Economic Relations of Turkmenistan, Mr. Zertit Haysem, President of the Algerian Association of Business People, and Mr. Feras Adel Muhammad Al-Salem, President of the Business Council of Kuwait.

During the meetings, the parties exchanged views on establishing institutional cooperation to enhance relations between business entities, potential collaboration directions, and shared experiences regarding SMBs. Additionally, the partnership agreement on cooperation between KOBİA and “AIM Congress” was signed.