BAKU, Azerbaijan, May 2
By Fidan Babayev – Trend:
As many as 30 Azerbaijani companies applied to the country’s Center for the Study of Economic Resources for services during 2019, Chairman of the center Ruslan Atakishiyiev told Trend.
The State Oil Company of Azerbaijan SOCAR, Azersun Holding LLC and Libraff also are among those companies.
“It is planned to expand the boundaries of cooperation in the financial sector of Azerbaijan by the end of 2020. The center also has partners in the regions of Azerbaijan and holds annual trainings for them; however, the center does not plan to expand its activities in the districts in the near future, since at this stage it is not economically profitable,” the chairman said.
Atakishiyev believes that the joint business model has important advantages for Azerbaijani business, but the main obstacle is the lack of financial literacy of the population and a number of stereotypes.
“We subdivide financing of our activity into two directions. The first is the fees for conducting trainings and payment for provided services; and the second is annual grants from the funds under the president,” the head said.
Atakishiyev said that the center cooperates with the Ministry of Economy, the Ministry of Taxes, the National Confederation of Entrepreneurs (Employers’), the Azerbaijan Banks Association (ABA), and the Azerbaijan Micro-finance Association (AMFA).
“The mission of the center is to support the development of the country's economy, the study of advanced economic knowledge and their usage in Azerbaijan. Our center promotes change in an economy of market. We are going to increase the services for professional development of a business plan, a feasibility study in accordance with the requirements of international and local financial and credit institutions. We also intend to develop a new plan to improve the investment climate in Azerbaijan,” he concluded.
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