14:06 - 1.10.2026

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October 1, Fineko/abc.az. A new institutional stage has begun in Azerbaijan in the field of entrepreneurship, investment and export promotion. In accordance with the presidential decree dated February 24, 2026, the Agency for the Development of Small and Medium-sized Businesses, Investment & Export Promotion was established under the Ministry of Economy.

As soon as the new structure began its activities, the terms of office of the Agency for the Development of Small and Medium-sized Businesses (KOBIA) and AZPROMO expired.

At that, the leadership duties of KOBIA's chairman of board Orkhan Mammadov ended.

The new Agency, which will operate under a single "umbrella" management, will take over KOBIA's 8 years of experience and infrastructure and will centrally manage the development of the private sector, attracting local and foreign investments in the non-oil and gas sector, as well as the export of domestic products to foreign markets.