Azerbaijan’s positions objectively assessed in Doing Business report - Deputy minister

  01 November 2018    Read: 1230
Azerbaijan’s positions objectively assessed in Doing Business report - Deputy minister

The conclusions on Azerbaijan, indicated in the World Bank Group's Doing Business-2019 report are an objective assessment of the country's current economy, Azerbaijani Deputy Economy Minister Sahib Mammadov told Trend.

“The analysis made by international experts and financial structures is based on real indicators that confirm the noticeable growth of the Azerbaijani economy,” he said.

"The improved indicators of the Azerbaijani economy are the result of successful reforms being implemented in Azerbaijan and a thought-out economic policy of the government,” Mammadov said. “The development of small and medium enterprises today is one of the priorities of Azerbaijan’s state policy. A lot of work has been recently done in the country aimed at raising the non-oil sector to a new level."

He stressed that the Agency for Development of Small and Medium Enterprises was established to support entrepreneurship and improve the business sphere in Azerbaijan.

"This agency gradually renders assistance to entrepreneurs beginning from the creation of their business and ending with the start of production,” Mammadov said. “At the same time, the work is carried out to enlighten people engaged in business, they are provided with soft loans and other services are rendered to them. In order to support the business, certain changes have been made to the country's legislation. All conditions are created for improving the business climate in Azerbaijan."

He added that all the efforts are already yielding positive results, which is confirmed by the ratings of international organizations and world-class financial structures.

Azerbaijan has significantly improved its positions in the World Bank Group's Doing Business ranking.

Thus, Azerbaijan ranks 25th among 190 countries in Doing Business 2019, while it was 57th in Doing Business 2018.

According to Doing Business 2019, Azerbaijan has entered the list of countries with the most noticeable improvement in the economy.

Doing Business authors said that Azerbaijan has carried out a record number of reforms aimed at simplifying doing business in 2017-2018 among 10 economies that have shown significant improvement.

Doing Business is annually published by the World Bank Group, which assesses regulatory standards in entrepreneurial activity.

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