Exciting updates from the AHK Azerbaijan Energy Transition Working Group meeting on “Financing the Energy Transition!”. This session is part of our series "Innovate, Collaborate, Transform – Expectations for COP29" in preparation for COP29 Azerbaijan.

Rashad Huseynli, Vice Chairperson of the Energy Transition Working Group, welcomed over ten companies to discuss the critical need for funding Green Energy initiatives.

Key insights from Vitaly Yakovlev, Head of the Infrastructure sector, Managing Partner of KPMG Azerbaijan, & Deal Advisory Partner of KPMG Caucasus and Central Asia (CCA), highlighted the urgency of addressing climate risks, a key goal of COP29.

Seymur Niftaliyev, Director of Law KPMG Azerbaijan, emphasized the importance of developing green infrastructure in Azerbaijan, showcasing the role of Public-Private Partnerships (PPPs) and Green Loans in supporting sustainable projects.

The meeting concluded with a fruitful idea-sharing session. Together, we’re paving the way for a greener future!

AHK Azerbaijan had the pleasure of embarking on an inspiring five-day journey with German railway technology providers as part of the Markterschließungsprogramm (MEP).

During this trip, we gained valuable insights into Azerbaijan's railway sector and connected with key players including Azerbaijan Railways, Baku Metro CJSC, Proxima at Balakhany Industrial Park, Rail Trans Service LLC (RTS), INNOPRO CJSC, Alstom Transport Azerbaijan LLC, and Railways Communications and Technologies LLC. In these meetings, we discussed the business activities of European companies in Azerbaijan, as well as current projects, tenders, and opportunities for German companies to participate actively.

A highlight of the trip was the information event titled "Innovations in Railroad Technology in Azerbaijan: Partnerships and Opportunities for German Companies." This provided a fantastic platform for B2B meetings, allowing German companies to gather firsthand information about the industry.

This delegation trip is organised in collaboration with COMMIT Project Partners GmbH and on behalf of the Federal Ministry for Economic Affairs and Climate Action (BMWK).

In this delegation, the German companies represented included:

Elektro Thermit GmbH & Co KG - www.elektro-thermit.de
HÜBNER GmbH & Co. KG - www.hubner-group.com
KATHREIN Solutions GmbH - www.kathrein-solutions.com
Schaltbau GmbH - www.schaltbau.com
Vagoteq GmbH - www.vagoteq.com
WAGNER Rail GmbH - www.rail.wagnergroup.com

A heartfelt thank you to everyone who contributed to the success of this trip! We look forward to further collaborations and partnerships!

Trident Trackway LLC, a partially German-owned company based in the United Arab Emirates, has made a significant contribution to the Olympic Stadium in Baku, supplying 20,000 sqm of flooring protection for the upcoming COP29 event.

Once the event wraps up, they are exploring the possibility of repurposing the trackway tiles within Azerbaijan. This initiative not only supports the anticipated demand for such innovative flooring solutions for future events but also aligns with the sustainability goals of COP29 by minimizing carbon emissions. By keeping the materials local, they aim to foster a circular economy and contribute positively to the region's event infrastructure.

For those interested in this sustainable opportunity, feel free to reach out:

David Wernery

+971 50 845 3669

Website: www.trident-trackway.com

E-mail: dwernery@tridentechtrading.com

Khomyakov made it clear that Binance is always ready to keep the lines of communication open with regulators, which is a crucial piece of the puzzle for the smooth sailing of cryptocurrencies and blockchain technologies.

"The Azerbaijani government's keen interest in engaging in discussions with prominent members of the crypto industry regarding critical regulatory matters suggests that the nation is prepared to remain in step with global developments in the digital economy," he noted.

He highlighted Azerbaijan's robust digital backbone, pointing out that it opens the door wide for the blossoming of the cryptocurrency sector.

"This resource will be essential for executing collaborative projects with Binance, other significant market participants, and various Web3 initiatives," he added.

Khomyakov also mentioned that Binance is all ears for partnerships with Azerbaijani financial institutions and businesses, spotting a goldmine of potential for collaboration, especially in the realm of education.

"Binance prioritizes education and is developing partnerships with local universities. In 2018, Binance Academy was founded to encourage crypto education and literacy. Today, it has over 1,000 articles, glossaries, and extensive courses in over 30 languages. Similar projects are happening in Kazakhstan, where we are educating students from 22 higher education institutions in blockchain engineering and compliance. We plan to train 40,000 students by 2026 as part of this effort," he said.

Binance intends to initiate a "Crypto School" initiative, featuring a fundamental teaching program on blockchain and cryptocurrency, involving more than 1,000 students from the CIS region.

"More than 1,000 students from the CIS have engaged in this program. Binance Academy presently provides an advanced education for Azerbaijani users, encompassing subjects like blockchain technologies, NFTs, decentralized apps (DApps), decentralized financing (DeFi), crypto trading, and additional topics," the general manager highlighted.

With an eye on the horizon, Khomyakov laid out the game plan for the tail end of this year and the dawn of the next.

"We will persist in improving the user experience on our platform and introduce new products to satisfy the requirements of our clients in Azerbaijan and beyond. We want to implement educational programs to enhance cryptocurrency knowledge among the populace, which we feel will benefit both business development and the broader expansion of the cryptocurrency sector in the region," he concluded.

The primary objectives of the project are to stimulate innovation, create opportunities for new businesses, and provide a platform for startups to realize their ideas. It will offer mentorship and financial support to small and medium enterprises (SMEs) in Azerbaijan, explore promising business concepts with potential for sustainable growth and positive societal impact, and foster a robust network of entrepreneurs.

Entrepreneurs and startups are encouraged to participate, and the application process is now open. Financial resources will be allocated for the projects selected by the jury.

For more information about the project, please visit the “Bizdən Biznesə” website.

In support of this initiative, a Memorandum of Understanding was signed between KOBIA and AccessBank at the "Bakı KOB evi", accompanied by a project presentation.

"KOBIA, as an integral part of the entrepreneurial ecosystem, provides various forms of support and services to foster new business creation, expand existing enterprises, and implement innovative startup projects. The execution of such initiatives within a public-private partnership framework is crucial, and KOBIA actively supports private sector initiatives," - added Orkhan Mamedov, Chairman of the Board at KOBIA.

The head made the statement at a media briefing on the results of a media tour of Heydar Aliyev International Airport in preparation for COP29.

“The State Migration Service, in conjunction with the COP29 Organizing Committee and the Azerbaijan COP29 Operating Company, has executed initiatives to optimize migration registration processes, enhance awareness, and promptly resolve issues that may occur during entry and exit from the country. The registration period for COP29 participants has been extended from 15 to 30 days, as stipulated in the agreement between the Government of Azerbaijan and the UN Framework Convention on Climate Change Secretariat. These regulations pertain to foreign nationals and stateless persons entering the country with a COP29 visa or without a visa, contingent upon their registration with the UN Framework Convention on Climate Change Secretariat.

Essential technical and organizational arrangements have been established to efficiently execute these requirements and facilitate seamless border crossings for foreign participants, particularly those entering without a visa," Aliyev said.

He mentioned that to keep foreigners in the loop about the pertinent rules, a wealth of information on migration regulations has been rolled out on official websites and other resources tied to COP29.

"Airlines conducting flights to Azerbaijan and other designated groups have been supplied with relevant information. During the conference, essential measures will be put in place to improve operations at critical points of interaction between foreign citizens and migration authorities, including Heydar Aliyev International Airport, the Service's Call Center, and other service locations," he added.

Azerbaijan's Central Bank announces tender for vehicle maintenance services

The Central Bank of Azerbaijan Republic (CBAR) has announced a tender for the purchase of car maintenance and repair services.

The cost of participation in the tender is 250 manat ($147).

Those wishing to participate in the tender can submit the necessary documents by 17:00 (GMT+4) on November 6, 2024.

Envelopes with tender proposals will be opened at 17:00 (GMT+4) on November 6, 2024.

Additional Information:

Telephone number: (+99412) 493-11-22.

Contact person: Abdulla Boyukkishiyev (Abdulla_Boyukkishiyev@cbar.az)

Address: 90, Rashid Behbudov street, Baku.

Azerbaijan Technical University has announced a tender for the purchase of a vehicle.

The cost of participation in the tender is 170 manat ($100).

Those willing to participate must submit their proposals by 12:00 (GMT+4) November 1, 2024.

The opening of the tender packages will take place at 12:00 on November 1, 2024.

Additional information:

Phone: (+99450) 261-38-15

Contact: Asif Hamzatov (asif.hamzatov@aztu.edu.az)

Address: Huseyn Javid Avenue25, Baku, Azerbaijan

Innovation and Digital Development Agency under the Ministry of Transport and Digital Development of Azerbaijan announces a tender for the purchase of IT equipment.

The cost of participation in the tender is 154.38 manat ($90.8).

Those wishing to participate in the tender should send their offers until 17:00 (GMT+4) on the first of November 2024. Opening of tender packages will take place on November 1, 2024, at 17:00 (GMT+4).

Additional Information:

Telephone number: (+99410) 310-14-00 (domestic 4022).

Contact person: Shams Mammadli (Shams.Mammadli@idda.az)

Address: 89, Ataturk avenue, Baku.