“Global Project Development” Investment Company and Azerbaijan Entrepreneurs Confederation signed Memorandum of Understanding on cooperation

On June 21, Memorandum of Understanding was signed between “ASK Business Consulting” operating under the Azerbaijan Entrepreneurs Confederation (ASK) and the Saudi Arabian company “Global Projects Development Holding Co”.

The Memorandum of Understanding aims to fulfill common development targets between Global Projects Development Holding Co. and ASK Business Consulting and to promote cooperation and integration opportunities among international and Azerbaijani companies.

In this regard, Global Projects Development Holding Co. recognizes ASK Business Consulting as an advisory.

The Memorandum of Understanding provides support for the expansion of access of Azerbaijani companies to foreign financial resources, setting up of investment projects (business plans) database proposed by local entrepreneurs and companies, initial analysis and review, also direct participation in the selection process of the investment projects etc.

The document was signed by Mr. Bader Al Busaies, Director of the Global Projects Development Holding Co., and Mrs. Fargana Hasanova, Director of the ASK Business Consulting.

Vugar Zeynalov, Vice President of the Azerbaijan Entrepreneurs Confederation wished success to both sides, adding that the selection process of Azerbaijani companies to attract new investments will start.

Mr. Bader Al Busaies noted that they see ASK as a team and are ready to work in the same group. He said that along with plans to invest in companies in Azerbaijan, they are also ready to support export of products of Azerbaijani companies to the Gulf countries.

“There are many competitive producers among ASK members and they are interested in exporting abroad, especially in the Gulf countries” said V.Zeynalov.

Bader Al Busaies noted that within a week tourism potential in Baku has attracted his attention and he asked for information on the market situation in this area. In addition, the foreign investor, interested in the insurance sector in Azerbaijan, also stressed his intention to invest in an insurance company.