Azerbaijan preparing bill on venture financing

The State Agency for Public Services and Social Innovations under the President (ASAN Service) is preparing a bill on venture financing in Azerbaijan, said Chairman of the Board of the Small and Medium Business Development Agency (SMBDA) under the Ministry of Economy Orkhan Mammadov, Report informs.

"We, as well as the Ministry of Economy and the Ministry of Digital Development and Transport, are involved in the process of preparing the document. The bill is expected to be adopted this year. The new law will be necessary for the creation of both startups and venture funds," he noted.