AmCham applauds significant ranking progress of Azerbaijan in Doing Business-2019 report

Business Materials 2 November 2018 17:58 (UTC +04:00)

Baku, Azerbaijan, Nov. 2


American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) applauds the ranking progress of Azerbaijan to the 25th position among 190 countries in the Doing Business-2019 report, which is 32 points higher compared to the last year.

Executive Director of AmCham Azerbaijan, Mrs. Natavan Mammadova, noted that Azerbaijan has implemented a record number of reforms this year – 8. This is the highest indicator across all the countries. “This is obviously a result of the ongoing reforms being implemented in Azerbaijan with the aim of developing the business environment in our country, as well as another achievement in the fulfilment of the tasks set out in the Strategic Road Maps.” Mrs. Mammadova said.

According to Mrs. Mammadova, the reforms carried out to support entrepreneurship paved the way for positive changes in the private sector, particularly for startups running, obtaining of construction permits, increasing access to finance, tax policy, property registration etc.

“The results of the report will pave the way for attracting more foreign investments to our country. We believe that economic reforms will be carried out further towards increasing the competitiveness of the Azerbaijani economy and promoting its sustainable development. In the upcoming future, adoption of the Competition Code and the new Law on Investment Activities, as well as the anticipated tax reforms will further contribute to the improvement of the business environment of our country and boost rating of Azerbaijan in international reports.” Mrs. Mammadova said.

Mrs. Natavan Mammadova also stated that in this respect, AmCham Azerbaijan remains committed to cooperation with the government and ready to share the experience and expertise of the members of the Chamber.

AmCham Azerbaijan is a leading private, non-profit business association supporting and promoting the interests of foreign and local businesses in Azerbaijan. Established in 1996, AmCham Azerbaijan is composed of over 280 Member-Companies and Associates active in every sector of the Azerbaijani economy. AmCham Azerbaijan represents nearly 80 percent of all foreign investment, as well as a significant portion of local investment in Azerbaijan.