BAKU, Azerbaijan, May 19. More than half of the EU companies operating in Azerbaijan wish to expand their businesses (53 percent of the surveyed), while about 80 percent of the investors are ready choice Azerbaijan as a business location again, Trend reports via the sixth edition of the EU Business Climate Survey 2021.
The results of the 2021 report show higher levels of optimism, compared to 2020 (48 percent of the respondents wished to expand their business in Azerbaijan).
According to the survey conducted by the EU, among those enterprises that consider expanding are mostly construction and engineering companies. ICT companies also lean towards growth, as well as transportation and logistics enterprises.
Meanwhile, among those choosing Azerbaijan as their business location again are transportation and logistics enterprises (92 percent of the surveyed), construction and engineering companies (87 percent of the surveyed), and ICT businesses (77 percent of the surveyed).
As the survey concluded, the EU companies of all sectors have provided more or less similar views on the business environment in Azerbaijan, and also express appreciation for the state support, especially amid the COVID-19 pandemic.
“The ambitious objectives of the country regarding economic diversification and the development of strong SMEs sector require a potent supportive business environment to enable rapid growth of the private sector. In this regard, the further reforms aimed to improve the country's business climate and develop a client-oriented mindset amongst the public authorities remain crucial,” the EU report noted.
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