IFC to support creation of inspections register in Azerbaijan
Azerbaijan, Baku, 18 June / Trend, A. Akhundov /
The International Finance Corporation (IFC) will assist Azerbaijan in the creation of an inspections registry, IFC representative in Azerbaijan Aliya Azimova told during her speech in Baku on Tuesday at the IV Congress of the National Confederation of Azerbaijani Entrepreneurs.
She said that the draft law "On protection of interests of entrepreneurs and regulation of inspections in entrepreneurship sphere" was prepared with the participation of the IFC.
"Now, the priority area of cooperation of IFC and Azerbaijan is to improve the situation related to the inspections of entrepreneurs, the issuance of permits. Increasing the transparency, using uniform standards for all is principal here," Azimova said.
The main purpose of the draft law is to establish uniform rules for inspections in the field of entrepreneurship, as well as suppress unlawful interference to the activities of entrepreneurs during these inspections. Businesses are divided into high, medium and low risk groups while being inspected and the frequency of planned inspections will be regulated depending on the results of this division.
Entrepreneurs who have not broken the law over a defined period of time, are moved to low risk group, which will require that they face less inspections.
The duration of planned checks of large businesses should not exceed 10 days, and the inspections of medium and small entrepreneurs should not exceed five days.
The unscheduled inspections of large employers should not exceed five days, and the inspections of medium and small entrepreneurs should not exceed three days.
According to Azimova, IFC's portfolio in Azerbaijan today amounts $0.5 billion, and is formed by 60 investment projects and 10 consulting projects.