Signed Memorandum of Understanding on cooperation between KOBIA and BP

BP will be cooperated on projects aimed at supporting entrepreneurship in our country, and two new projects will be implemented to support the development of young entrepreneurship and agrotourism in the regions.


A new Memorandum of Understanding was signed on cooperation between the Small and Medium Business Development Agency (KOBIA) under the Ministry of Economy and BP. The document was signed by Orkhan Mammadov, the Chairman of the Board of KOBIA and Bakhtiyar Aslanbeyli, BP Vice-President for Communications and External Affairs in the Caspian region.

In this regard, it was noted at the event held at "Baku SME House" that the new document is a continuation of the effective cooperation between KOBIA and BP. KOBIA and BP will become partners within the framework of the memorandum in projects aiming to support entrepreneurship in our country.

KOBIA Chairman of the Board of Directors Orkhan Mammadov said at the event about cooperation with BP: “KOBIA implements joint projects with various institutions and organizations in the regions in the direction of the development and support of micro and small entrepreneurship. The projects to be implemented in cooperation with BP will also have a positive impact on increasing the level of profitability of local communities in the regions and will contribute to the creation of new businesses and self-employment. This collaborative format can also be used in other projects as an experiment. We believe that our cooperation with BP will make a significant contribution to the development and expansion of small and medium enterprises”.

Bakhtiyar Aslanbeyli, BP's vice-president for Communications and External Affairs in the Caspian region, noted that the new memorandum of understanding shows continued efforts to support local business development: “Our Entrepreneurship Development Program project has successfully brought together all stakeholders working to build the capacity of local enterprises. The program has created a great opportunity for local enterprises to achieve international standards and compete for supply contracts. Now we are completing this project and starting a new joint activity with KOBIA. We intend to contribute to the success of the Entrepreneurship Development Program through this partnership. We are proud of the results we have achieved over the past 15 years by investing in the development of local entrepreneurship and believe that there will be more opportunities in the future to continue our support in this area”.

Two new projects were also informed about, which will be implemented jointly with the support of KOBIA and BP within the framework of the event. It was noted that one of the projects will be implemented in Samukh, Goranboy and Shamkir regions in order to support the development of young entrepreneurs in rural areas. Young people from low-income families who are interested in entrepreneurship will be selected and trained within the framework of the project for future entrepreneurial activities. Young people who will successfully complete the training will be given the necessary equipment to start their own small business, as well as mentoring support. The project will be implemented by the Public Union "Support to Rural Development".

Another project aims to support the development of agrotourism in Tovuz region. The project envisages creating income and employment opportunities for selected low-income families from the region. The personnel of seven business entities engaged in agritourism will be trained, mentoring support will be provided, and those enterprises will be equipped with equipment within the framework of the project. In addition, support will be provided for the repair of those business facilities, if necessary. The project will be implemented by the Regional Development Public Union.

Representatives of "Ekvita" company, "Support for Rural Development" and Regional Development public associations gave information about the projects in question at the event.