Azernews.Az

By Amina Nazarli

The economic situation in Azerbaijan has been showing a tendency towards stabilization in the first months of 2017.

Movlan Pashayev, Country Managing Partner of PWC Azerbaijan (subsidiary of PwC multinational accounting firm) said during a briefing with journalists in Baku on March 29.

“Azerbaijani economy faced various threats in 2016,” Pashayev said. “Overall, last year was quite difficult for the country.”

Pashayev also spoke about PwC’s supporting Azerbaijan’s economic development for the creation of stable, favorable investment environment of the country in the South Caucasus region and beyond.

“I firmly believe that the combination of local talents, advanced global experience and innovations is our key sustainable advantage that will become the driving force for long-term economic growth and increase of the welfare of society,” Pashayev said.

Pashayev went on further saying that Azerbaijani companies currently need to consider strategic planning.

“Strategic planning is the key to a company’s future success. I don’t mean that it is necessary to plan for the next 10-20 years right away – this is quite difficult. But it is necessary to make plans at least for the next 2-3 years,” he said.

Today, we have very few of such companies, Pashayev said, noting that however it is necessary to understand the general trends and the importance of the strategic planning process.

“It is also necessary to plan development of technologies and human resources. This should be gradually imparted to Azerbaijani companies,” Pashayev said, adding this can lead to greater development of companies and, as a consequence, Azerbaijan’s entire economy.

PwC is aimed to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services.

PwC has been active in Central and Eastern Europe for the past 25 years. PwC Central and Eastern Europe (PwC CEE) is a network of firms, consisting of separate legal entities in accordance with applicable local laws and regulations. The company works to help its clients in local markets become more successful and globally competitive. Today we have more than 8,800 people, including 260 partners, working in 55 offices across 29 countries in the region.

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Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli

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