Ways to further facilitate starting business discussed in Azerbaijan

Fri 23 Aug 2019 10:51 GMT | 14:51 Local Time

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The Center for Analysis of Economic Reforms and Communications of Azerbaijan has discussed a reform plan that will further facilitate the process of starting a business in Azerbaijan, and thus provide a further increase in the country’s position in international ratings, in particular Doing Business, Trend reports Aug. 23 with reference to the center.

Executive Director of the Center Vusal Gasimli noted that the work on informing about the new system of electronic business registration implemented in Azerbaijan at the international and local levels will continue in the second half of 2019.

During the discussion, it was also noted that work with business entities is a priority of the plan.

“Results of training and meetings held for entrepreneurs on the new electronic system in the first half of 2019 will be analyzed,” Gasimli said.

A list of public associations, business associations and coordinators in relevant areas will be prepared for their wider familiarization with information on reforms for starting a business.

Azerbaijan took 25th place in the Doing Business 2019 ranking of the World Bank Group. In 2018, the country held only the 57th position.

According to the rating for this year, Azerbaijan ranked ninth in “Starting a business”, 17th in “Registering property”, 22nd in “Getting credit”, second in “Protecting minority investors” and 28th in “Paying taxes.”

The current report emphasizes that Azerbaijan has entered the list of countries with the most notable economic improvement.

The authors of the report note that Azerbaijan has implemented a record number of reforms totaling to eight, aimed at simplifying doing business, among 10 economies that have shown significant improvement in 2017-2018.

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