BAKU, Azerbaijan, Jan. 28
By Nazrin Israfilova – Trend:
The Entrepreneurship Development Fund under the Ministry of Economy of Azerbaijan develops special mechanisms to assist businesses in the formation of social and corporate governance arrangements, Acting Head of Board of the Azerbaijan Entrepreneurship Development Fund Osman Khaliyev told Trend.
According to him, the Foundation attaches particular importance to this activity.
"The applications received from business entities contribute to the implementation of this project. An internal analysis is currently being carried out to create such mechanisms, and the possibility of applying differentiated approaches is being studied," Khaliyev stated.
He recalled that a memorandum of understanding was signed between Azerbaijan and the UN in 2021 to promote corporate sustainability in order to achieve national priorities for the socio-economic development of Azerbaijan, strengthen the position of business in society, create strong business models in the post-pandemic period, and expand opportunities for entry into foreign markets.
"In light of the signing of the memorandum, we approach the UN Sustainable Development Goals as a special criteria for businesses that promote social and corporate governance standards," said Khaliyev.