Azerbaijan offered to establish investment council

Business Materials 8 August 2011 13:51 (UTC +04:00)

Azerbaijan, Baku, Aug.8 / Trend, I. Khalilova /

The World Bank (WB) offers Azerbaijan the advantage of an international practice for establishing a direct dialogue between the private sector and government.

"There is a need for direct discussions between the private sector and government in Azerbaijan, so that business representatives could inform about their needs and initiatives", the WB Baku Office said.

Most world countries successfully use the practice of establishing an investment council or a Council of Entrepreneurs, bringing together about 10-15 people and representing all investors and the private sector's interests.

Such councils meet with the president and the economic bloc of the government to exchange views and information about the most important issues once or twice a year. It would be useful to establish a similar council in Azerbaijan in the near future, a source in the WB Baku Mission said.

"This initiative should come from the entrepreneurs themselves. At the same time, the government should see some benefit from joint activity with the entrepreneurship in order to improve the country's investment climate", the bank's experts believe.