IFC helping Azerbaijan to attract foreign direct investment: regional director (Exclusive)
Baku, Azerbaijan, Sept.23
By Leman Zeynalova – Trend:
The International Finance Corporation (IFC) is supporting the government of Azerbaijan in its work on a new investment law that will promote knowledge transfers and make it easier to access capital, Wiebke Schloemer, Regional Director, Europe and Central Asia, IFC said in an interview with Trend.
“To help attract investment and foreign direct investment (FDI), in particular, to Azerbaijan’s non-oil sector and boost diversification, we are supporting the state as it develops a national FDI strategy. That includes upgrading the legal and institutional framework for investment policy and promotion. We are also supporting the government in its work on a new investment law that will promote knowledge transfers and make it easier to access capital,” she said.
In addition, as Schloemer noted, IFC is helping the state build an efficient risk-based inspections system and ensure sustainable permitting regime reforms to help save time and resources, both for the private sector and public sector agencies, while continuing to ensure the highest level of safety.
“We believe Azerbaijan has tremendous economic potential. Strategic reforms can create conditions that go a long way towards helping the country realize its promise and, hopefully, usher in a new era of prosperity,” she added.
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