Azerbaijan, Baku, 12 November /corr. Trend I.Khalilova / The President of Azerbaijan signed an order approving Memorandum on intentions signed between the Ministry of Economic Development of Azerbaijan and International Finance Corporation (IFC) with regards to realization of the business climate improvement project in the country.
Memorandum was signed in Baku on 19 August.
The project is realized together with BP company and Swiss State Secretariat for Economic Affairs (Seco).
This project is envisaged for a period of five years. It implies support for steady and comprehensive economic growth through improvement of the business-climate for the entrepreneurs of the country. The basic goal of the project is the reduction of obstacles in the activity of entrepreneurs, conducting of monitoring of the business-climate through the survey amongst the small and medium enterprises, increasing the legal knowledge of entrepreneurs due to enlightenment work.
The Government of Azerbaijan commenced reforms in the process of registering entrepreneur's activity due to introduction of the principle "single window" in 2007-08. The introduction of this principle on the customs checkpoints is expected starting from 2009.
IFC is prepared to provide support for reforms in simplification in several administrative procedures and elimination of the basic regulated obstacles for the beginning of entrepreneurship activity. In particular, the Corporation will render assistance in implementation after the improvement of legislation, which regulates the systems of licensing and delivery of permissions.
Seco provided $4.3mln grant for improvement of the business climate.
Through projects on business climate improvement in CIS countries, IFC helped make amendments to and adopt 11 key laws/regulations, which provided an opportunity for small and medium enterprises $93mln.
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