Business environment working group boosts Azerbaijan's economy - expert

Economy Materials 15 May 2024 18:41 (UTC +04:00)
Aydan Alasgarli
Aydan Alasgarli
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BAKU, Azerbaijan, May 15. The working group of the Commission on Business Environment and International Ratings greatly fosters Azerbaijan's economic growth, senior expert from the Schmidt & Mahnke law firm, Karsten Manke, said at the presentation of the roadmap for 2024 and new initiatives for implementing improvements and communication on bankruptcy issues in business, Trend reports.

"The insolvency law is very important, and the modern approach is to help businesses restructure and remain in the market rather than just letting them die," he explained.

Manke noted that the working group had considered this strategy, which was a sensible option.

"Thus, the working group's actions in this area are a natural continuation of the country's successful efforts to enhance the legal system and business climate," he added.

To note, another meeting of the "Business Bankruptcy" working group of the Business Environment and International Ratings Commission is taking place in Baku.

The Secretariat of the Business Environment and International Ratings Commission, the Ministry of Justice of Azerbaijan, the Ministry of Economy of Azerbaijan, and the State Tax Service under the Ministry, representatives of the Central Bank of Azerbaijan, the head of the working group, and other members, as well as experts involved by the World Bank, participated in the meeting.

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