Project on boosting business kicks off with int`l support
A project on improving the business climate in Azerbaijan has
kicked off with the assistance of international groups.
The five-year Azerbaijan Business Enabling Environment Project, supported by the International Finance Corporation (IFC), a member of the World Bank Group, the Swiss State Secretariat for Economic Affairs (SECO) and oil giant BP, aims to support the efforts of Azerbaijan`s government to improve the business environment for entrepreneurs and ensure sustainable and diversified economic growth. Switzerland will allocate a grant of $4.3 million to implement the project, the IFC said.
The project will focus on reducing the regulatory burden on business, monitoring the business environment through surveys of the small and medium enterprise sector, and increasing entrepreneurs` awareness of their legal rights through outreach and advocacy work.
In 2007 and 2008, the government launched reforms by introducing a one-stop shop and making changes in licensing and construction permits, investor protection, tax administration, and labor. IFC pledged to continue supporting reforms in these areas by streamlining administrative procedures and removing key regulatory barriers to business entry and operations. In particular, IFC will work with the government to improve legislation governing permits and licensing and help implementing agencies translate legislative changes into improvements on the ground.
The five-year Azerbaijan Business Enabling Environment Project, supported by the International Finance Corporation (IFC), a member of the World Bank Group, the Swiss State Secretariat for Economic Affairs (SECO) and oil giant BP, aims to support the efforts of Azerbaijan`s government to improve the business environment for entrepreneurs and ensure sustainable and diversified economic growth. Switzerland will allocate a grant of $4.3 million to implement the project, the IFC said.
The project will focus on reducing the regulatory burden on business, monitoring the business environment through surveys of the small and medium enterprise sector, and increasing entrepreneurs` awareness of their legal rights through outreach and advocacy work.
In 2007 and 2008, the government launched reforms by introducing a one-stop shop and making changes in licensing and construction permits, investor protection, tax administration, and labor. IFC pledged to continue supporting reforms in these areas by streamlining administrative procedures and removing key regulatory barriers to business entry and operations. In particular, IFC will work with the government to improve legislation governing permits and licensing and help implementing agencies translate legislative changes into improvements on the ground.
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