Azerbaijani Organizations Want EU Grant to Improve Inner Investment Climate

Business Materials 26 September 2008 16:11 (UTC +04:00)

Azerbaijan, Baku, 26 September / corr Trend I.Khalilova / In October the European Commission will estimate bids by the pretenders to consultation services under the project of technical assistance to Azerbaijan for improvement of investment climate and support to the export development in the country, Rufat Mamedov, the executive director of the coordination bureau of the European Union (EU) technical assistance programs in Azerbaijan (TACIS) said.

The selection will be done on the base of short-list, which includes 8 consortiums.

1. AICSI-Italian Agency for the Cooperation and Development of the International Exchanges (IT) -CEEN - Economic project & Policy Consulting GmbH (AT), SICI DOMINUS (ES), IKADA (TK)

2. Wienier Borse AG - Vienna Exchange (WBAG) (AT) - ICON-INSTITUT GmbH Private Sector (ICON) (DE), Sparkassenstiftung fur Internationale Kooperation e. V. (SBFIC) (Saving Banks Foundation for International Cooperation) (DE), Azerbaijan Bank Training Center (ABTC) (AZ)

3. SOFRECO (FR) - IVEX (ES), Belgian Bankers Academy (BE)

4. INTEGRATION International Management Consultants GmbH (DE) -International Development Ireland Limited (IE)

5. ACE, Asesores de Comercio Exteriior S. L. (ES) -Emerging Markets Group (EMG) (BE), GOPA Consultants (DE), Azerbaijan Micro-Finance Association (AMFA) (AZ)

6. POHL Consulting & Associates (PC & A) (DE) -Maxwell stamp PLC (UK), European Profiles SA (GR), HEPO S.A.-Hellenic Foreign Trade Board (GR)

7. Altair Asesores S.L. (ES) -DMI Associates (FR), Gruppo Soges S.p.a. (IT), INCOM Ltd (GR)

8. De Leeuw International Limited (TK) -WYG International Limited (UK).

The estimated value of the project is €3mln and it will take two or three years to complete. Assistance under the project of improvement of the investment climate in the country will be a continuation of the work of TACIS with Azerbaijani Fund of Export and Investments Encouragement (AZPROMO).

Under the project it is planned to develop a state strategy on introduction and development of portfolio investments in Azerbaijan is foreseen, that suggests the work with participators of the securities market, improvement of the legislation. At the same time, the Baku Stock Exchange, which has the practical role in the work with corporative market members and also with physical persons, will be involved in it.

This project is included into the action program for 2006 approved by the European Commission in 15 June 2006, but the financial memorandum on it was signed last year.

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