As part of the visit of General Secretary of the Central Committee of the Communist Party of Vietnam To Lam to Azerbaijan, the “Memorandum of Understanding on the Establishment of the Joint Business Council between the Small and Medium Business Development Agency (KOBIA) of the Republic of Azerbaijan and the National Association of Entrepreneurship (VINEN) of the Socialist Republic of Vietnam” was signed.

The document was inked by Orkhan Mammadov, Chairman of the Board of KOBIA, and Dinh Viet Hoa, President of the VINEN.

The Azerbaijan-Vietnam Business Council will support initiatives from entrepreneurs in both countries, facilitate direct contacts between businesspeople, organize reciprocal visits and joint events, and promote the exchange of commercially valuable information. Initial steps will include the selection of co-chairs and the involvement of business representatives from both sides.

During their meeting, Mammadov and Hoa discussed matters arising from the memorandum and explored avenues for enhancing cooperation between the two countries' business communities.

As part of the visit, the President of VINEN also toured the "Baku SME House" and was introduced to the range of G2B and B2B services offered to entrepreneurs.