On May 18, 2021, a Memorandum of Understanding was signed between the Ministry of Economy of the Republic of Azerbaijan and the country's largest brewing company Carlsberg Azerbaijan.

The signing of the memorandum took place online with the participation of Mikail Jabbarov, Minister of Economy, representatives of the State Service for Antimonopoly Policy and Consumer Market Control under the Ministry of Economy, as well as Lars Lehmann, Carlsberg Group Executive Vice President for Central & Eastern Europe region, Vyacheslav Maltsev, Managing Director of Carlsberg Azerbaijan, and regional representatives of Carlsberg Group.

According to the document, Carlsberg Azerbaijan plans to invest over AZN 25 million in localization of the raw material base, modernization of the enterprise, reduction of losses and development of workplace safety measures in the workplace, export of beer produced in the country, as well as in commercial projects aimed at developing the production in 2021-2025.

The parties also agreed on cooperation in export projects to improve the competitiveness of "Made in Azerbaijan" products.

Mikail Jabbarov, Minister of Economy of the Republic of Azerbaijan: "Carlsberg Azerbaijan's new development and investment plans in our country are noteworthy. The document signed today is a fulfillment of the order of the President of Azerbaijan Republic Ilham Aliyev following the meeting with the CEO of Carlsberg Group Cees ’t Hart in Davos in 2020. We appreciate the company's program to expand its operations in Azerbaijan, localize the raw material base and transition to a production process based on innovative technologies. The Memorandum of Understanding aimed at several purposes. Thus, the company intends to significantly reduce the import of raw materials in 2025 by supporting the production of beer barley in Azerbaijan. Expansion and localization of production will also increase export opportunities and contribute to employment. The Ministry of Economy is ready to support the increase of the company's export potential by cooperating within the framework of export support mechanisms. This cooperation will serve to increase the export of "Made in Azerbaijan" branded products to foreign markets and ensure their competitiveness."

Executive Vice President, Central & Eastern Europe, Lars Lehmann: “The memorandum signed between the Ministry of Economy and Carlsberg Azerbaijan is an excellent example of business support in Azerbaijan. The Government's openness to dialogue, the level of interaction with business and the fight against “the shadow market”, have created a reliable basis for the development of our business. This approach to the dialogue between the state and business in Azerbaijan is an indicator of the far-sighted policy of the country leadership, which will certainly bear fruit in the nearest future.”

Managing Director of Carlsberg Azerbaijan, Vyacheslav Maltsev: “I have been living and working in Azerbaijan for almost four years and I see real progress every year, as the head of business in Azerbaijan in relations between business and government, and in everyday life in the market transparency, the level of customer service and much more. Undoubtedly, this is also the result of a very intensive and effective work of the Ministry of Economy aimed at supporting business, regardless of sector and scale. We are very pleased that the main regulatory entity and stakeholder in government is our main supporter and defender. This gives us cause for confidence in the further business expansion in Azerbaijan.”