TODAY.AZ / Business

First Deputy PM: Azerbaijan significantly improves int'l ratings thanks to reforms

08 May 2019 [16:59] - TODAY.AZ

By Trend

Thanks to comprehensive reforms, Azerbaijan has significantly improved its international ratings in recent years, Yagub Eyyubov, First Deputy Prime Minister of Azerbaijan, said at a ceremony held for the signing of 3 cooperation agreements and 3 memorandums of understanding between the International Finance Corporation (IFC) and the Azerbaijani government, Trendreports.

He noted that, according to the World Bank’s "Doing business” report, this year Azerbaijan has improved its position by 32 levels, when compared to last year’s figures, ranking 25th among 190 countries.

According to Eyyubov, Azerbaijan ranked 2-nd in terms of indicators of the protection of the interests of small business investors. According to the indicators of founding a business, Azerbaijan was among the top 10 reformers.

"To improve the business environment and increase competition, as well as to improve the country's international ratings, President Ilham Aliyev signed a decree on July 13, 2016, establishing a committee on business environment and international ratings. As a result of the creation of a state platform for business dialogue within the framework of the committee, working groups of 280 participants were created in 19 areas," he said.

Eyyubov noted that the socio-economic development of the country accelerated as a result of economic reforms.

Speaking about the Business Environment in Azerbaijan and Competition in Agribusiness project, as part of the implementation of which cooperation agreements and memorandums of understanding were signed, Eyyubov noted that this project is scheduled to be completed by late 2020.

"Today's event brings cooperation between Azerbaijan and IFC to a new level," Eyyubov added.


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